According to the latest data from DefiMarketCap, the current total value of the decentralized financial market is $ 1,075,771,477.
After a difficult March in which most of the world markets fell, this is a great sign for a decentralized world of technology and cryptocurrencies.
According to the table, MakerDao (MKR) with a capitalization of $ 284,120,465 is leading, second place is 0x (ZRX) of $ 175,806,270 and third place is taken by Synthetix Network Token (SNX) with number $ 124,743,817. All three tokens are built as ERC20 in the Ethereum core network.
Within this market, DeFi Pulse comes with interesting statistics on total value of locked (USD) in DeFi.
He claims that Total Value Locked (USD) is currently $ 739.4M and Maker has a clear dominance with 49.85%.
It will be important for the decentralized financial market to stay above the 1 billion mark after the severe March downturn and we believe it is already the worst behind it.
What is DeFi?
DeFi stands for decentralized finance, including digital assets, protocols, smart contracts, dApps built on blockchain.
Defi can also be defined as a financial ecosystem in which you can use a decentralized way to build a variety of financial instruments and services. You can create applications are built on a particular blockchain, combine and integrate them according to your needs.
The biggest advantage of DeFi is that it offers you maximum control over your own assets, thanks to decentralization and blockchain technologies.