DeFi total market value returns to 1 billion US dollars, new DeFi agreement surges

The capitalization of tokens supporting the DeFi project has recovered 1 billion US dollars, while the total value of the locked funds is 703 million US dollars.

The value of the token supporting the Decentralized Finance (DeFi) protocol once again exceeded US $ 1 billion.

As this milestone arrives, DeFi projects have proliferated, and data aggregator DeFiMarketCap estimates that 246 projects are active.

The crypto market crash in March this year triggered the liquidity crisis of the top DeFi project MakerDAO (MKR), which caused the total market value of DeFi to fall below $ 1 billion.

The total market value of DeFi tokens returns to 1 billion US dollars

According to DeFiMarketCap data, the three largest tokens by market value account for more than half of DeFi's total market value, of which Maker accounts for 28%, 0x (ZRX) accounts for 16%, and Synthetix Network Token (SNX) accounts for 11% of DeFi's total market value.

These tokens show a high degree of correlation. In the past 24 hours, only 4 of the top 100 agreements have experienced price fluctuations of more than 5%. The total market value of the DeFi token is currently 1.05 billion US dollars.

MakerDao accounts for 49% of locked assets in Defi

Defi Pulse estimates that $ 703.3 million in assets is currently locked in the Defi agreement, of which MakerDao accounts for 49%.

In February of this year, as MakerDao ’s total asset capital exceeded a new high of $ 500 million, the value of the funds locked in the DeFi agreement exceeded $ 1 billion. However, after setting a current record of $ 750 million on February 15, Maker ’s market value began to shrink.

The crash in mid-March will accelerate the decline of Maker, and the locked-in funds fell from US $ 505 million to US $ 310 million in just two days, a drop of 44%, and a drop of nearly 60% since mid-February.

DeFi Pulse estimates that the top three protocol Makers, Synthetix and Compound account for 76% of all locked assets, valued at $ 536.1 million.

New DeFi protocol surges

In the past year, the number of DeFi projects providing loan services has increased significantly, with DeFi transactions accounting for one-third of the Ethereum (ETH) block space.

On April 8, PieDAO launched its first fund on Uniswap, called BTC ++. PieDAO allows users to create tokenized investment portfolios and provide exposure to encrypted assets and traditional assets through synthetic assets. PieDAO BTC ++ is already the 88th largest DeFi agreement and has locked in $ 95,200 of funds.

OpenLaw's limited liability for-profit decentralized autonomous organization LAO announced that it will open to its members on April 28. LAO membership is limited to qualified investors.

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More information: CointelegraphChina / Login

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