DeFi is growing along with Bitcoin, with total value locked soon exceeding $ 17B

DeFi is growing along with Bitcoin, with total value locked soon exceeding $ 17B

Interest in decentralized finance has increased at an astronomical rate during 2020.


20 Dec 2020 , 20:59 @ Thomas Alford

DeFi is growing along with Bitcoin, with total value locked soon exceeding $ 17B

Interest in decentralized finance has increased at an astronomical rate during 2020.

Although all eyes are only on Bitcoin, we cannot forget the cryptocurrencies belonging to the DeFi category, also their  growth  is unstoppable this year.

If we look at this annual chart tracking “Total Value Locked (USD)” in DeFi, its aggressive upward drive shows only one thing and that is a fact, that this sector is gaining a stronger global position every day.

Total Value Locked in DeFi was able to increase from a measured low of $659M in January this year to a measured high of $16.77B, which represents an increase of more than 2400%.

As for the most popular projects and DeFi tokens, Maker still dominates in the first place with a dominance of 16.96% and a TVL of $ 2.80B. In close proximity and in the second place is the WBTC with a TVL of $ 2.72B and the third place belongs to the Compound with a TVL of $ 1.92B.

Let us also not forget the indicator tracking all DeFi users, which only recently exceeded 1 million. At present, this value is just over 1.1M.

Read also: World Economic Forum: cryptocurrencies have the potential to create new markets

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    Thomas Alford

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