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Doubled in two months The total market value of Defi products e

Date:2024-05-01 18:08:21 Channel:Exchange Read:
In the past two months, the market value of DeFi (decentralized finance) products has achieved an astonishing doubling, with the total market value exceeding US$2 billion. This number is not only jaw-dropping, but also a milestone in the development of the DeFi industry, which has attracted widespread attention from the market and investors. Let us delve into this new storm in the DeFi industry and reveal the secrets and impacts behind it.
Background on the doubling of the market value of DeFi products
In recent years, with the continuous development and popularization of blockchain technology, the DeFi industry has gradually emerged. DeFi products are attracting an influx of more and more users and funds due to their decentralized, transparent, and secure features. In the past two months, the market value of DeFi products has doubled, which is not only the market’s recognition of the potential of DeFi, but also a reflection of the rapid expansion of the industry ecosystem.
Innovation and change in the DeFi industry
The rapid development of the DeFi industry is inseparable from its continuous innovation and change. Through smart contracts and blockchain technology, DeFi products realize decentralized financial services and provide users with a more efficient and secure financial experience. For example, various DeFi products such as lending protocols, liquidity mining, and stablecoin issuance continue to emerge, bringing new challenges and opportunities to the traditional financial system.
The impact of doubling the market value of DeFi products
The doubling of the market value of DeFi products is not only a numerical increase, but also a subversion and reconstruction of the entire financial system. With the rapid rise of the DeFi industry, traditional financial institutions have begun to realize its potential threats and opportunities, and have increased their research and exploration of DeFi. At the same time, investors have also begun to focus on the DeFi field and look for more investment opportunities.
Future Outlook and Thoughts
As the DeFi industry continues to develop, its prospects remain full of challenges and opportunities. From technological innovation to regulatory compliance, the DeFi industry still faces many problems and obstacles. However, it is these challenges that motivate the industry to keep moving forward and explore broader development space. We look forward to more surprises and breakthroughs in the DeFi industry in the future, and believe that driven by innovation and cooperation, the DeFi industry will usher in a more brilliant tomorrow.
Through an in-depth analysis of the phenomenon of doubling the market value of DeFi products, we can not only see new changes in the digital currency market, but also gain insights into the future development trends in the financial technology field. I hope this article can bring inspiration and thinking to readers, witness the vigorous development of the DeFi industry, and explore the infinite possibilities of financial innovation.

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According to Decrypt’s report on June 9, a few weeks ago, the total market value of decentralized finance ((DeFi)) products exceeded US$1 billion, and just last weekend, its total market value doubled and exceeded US$2 billion. close.

The total value of tokens associated with DeFi projects has doubled, another sign of the industry’s rapid expansion in value as users look for ways to obtain loans and interest without the control of banks and traditional financial institutions.

DeFiMarketCap will list the total value of tokens related to DeFi projects and protocols (such as Maker and Compound). In contrast, DeFi
Sites like Pulse display the total value of tokens locked, which records the value of assets such as ETH and DAI used in activities such as providing liquidity and securing loans.

Tokens for DeFi products gain value by performing certain functions within a given protocol. For example, Maker’s MKR token is used to stabilize the price of DAI at $1 and serves as the only currency that can be used to pay for transactions in the Maker ecosystem. Earlier this year, Maker was forced to auction MKR tokens to cover bad debts incurred during the cryptocurrency crash in March.

The total value of related assets of the Maker protocol exceeds $550 million, accounting for more than a quarter of the total market capitalization of DeFi, followed by the 0x protocol with $322 million and Synthetix with $172 million.

Other popular DeFi products include token projects, such as in the Aave lending decentralized application (dapp), where the total market value of interest-bearing tokens pegged to ETH or USDC exceeds $176 million, while Compound’s token value reached $134 million. DeFiMarketCap lists over 500 tokens across 18 protocols.

DeFiMarketCap was released on April 13 this year, and the website listed approximately 230 token projects when it went online. This website provides DeFi product rankings as an alternative to Coin Market
Cap. After recently acquiring the popular token information site Coin Market Cap, some suspected the move would allow the exchange to obfuscate data on suspicious trading volumes.

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