The DeFi industry is one of the few to see an extreme rise during the last difficult pandemic year.
When we compare the situation from a year ago, specifically from July 25, 2020, TVL in DeFi was at the level of $3.7B and today we are again above $60B. In simplicity, this is an increase of more than 1521%.
Despite the fact that the sector was also affected by the May dump, this market with decentralized applications is still in a great shape.
In addition to the increase in the value of TVL in the entire DeFi market, we were also interested in specific platforms and their growth this year. Specifically, it is the InstaDApp platform, which has been recording respectable performance in recent months.
InstaDApp, Powerful DeFi Management, has increased its TVL by more than a thousand percent since the beginning of this year, from $515M to the current more than $8B.
The InstaDApp platform managed to get to the second place of the most popular DeFi projects in just a few months, which means that after a long time, the company Compound is out of TOP3.