Total Value Locked (USD) in DeFi Hits an All-Time-High
Decentralized Finance DeFi protocols have been gaining popularity with the high returns they give for the users who lock their cryptocurrencies on them.
The Total Value Locked(TVL) reached $815M, and there’s almost no question that it will reach 1 billion soon.🚀
According to Bloxy data, the Uniswap exchange has been especially popular recently. In this post, we wrote about the interest that you could get by locking the funds in DeFi protocols. Uniswap’s interest rate was one of the highest in 2019.
The traditional synthetics & derivatives market is $640T, imagine if 1% of that will be built with ETH as bandwidth. It’s $6.4T. The potential is enormous.🔥
The most successful project in the Defi sector last year was Synthetix Network Token. On CryptoRank, we have created the DeFi category to track such projects easily.