Read full article at Coingape.

In the top DeFi news today, the adjusted total locked value (TVL) for decentralized finance (DeFi) applications soared to a one-month high as the top decentralized exchange, Uniswap (UNI) and AAVE, a crypto lending protocol, witnessed huge gains in the past week.

TVL of DeFi Apps Crosses $33.5 Billion

According to data from DApp Radar, the inflation-adjusted TVL of Decentralized Finance (DeFi) DApps crossed $33.55 billion on Monday, the highest it’s been since the Jun 1 DeFi wipeout in the market. Having set an all-time high 1-year adjusted TVL of $40 billion on Jun 1, value across DeFi platforms quickly dropped to nearly $29 billion as native governance tokens faced a bearish run and demand for DeFi products fell drastically.

The inflation-adjusted TVL is derived from calculating the total amount of locked cryptos multiplied by the value of the cryptos at a set date. A 1-year inflation-adjusted TVL means the current total number of crypto assets locked in DeFi multiplied by the locked price as of 365-days prior.

The 90-day inflation-adjusted TVL for DeFi is currently at its highest point – $131.61 billion – representing a staggering 178% growth in the past 90 days. The two largest Decentralized Finance (DeFi) protocols, Uniswap (UNI) and AAVE drove the growth in the past week despite their governance tokens plummeting over 50% from the all-time high prices set in May.

Image: DeFi inflation-adjusted TVL skyrockets 178% in the past 90 days!

Despite falling 3% in the past 24 hours, UNI is still 18% up in the past 14 days following a stellar week that saw it cross the $21-mark.

A closer look at DeFi TVL

Despite the heroics of UNI and AAVE in the past fortnight, nominal TVL numbers across DeFi still linger below the $100 billion mark. Since setting an all-time high of $139.92 billion on May 10 – when most DeFi tokens set all-time high prices – DeFi TVL has dropped to $about $90 billion, representing a 38% drop in two months.

However, the DeFi space is 2,600% up in the past year, according to DeFi Pulse – with AAVE leading the pack with $10.85 billion, Instadaap coming in second ($8.83 b), Curve finance ($8.21 b), Compound ($7.21 B) and Maker ($6.66 b) closing out the top five largest DeFi protocols.

The post DeFi News: DeFi Inflation-Adjusted TVL Skyrockets over 170% Despite Uniswap and AAVE Slips! appeared first on Coingape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Categories:

Tags:

Comments are closed

Translate

Our Other Projects

EdgyBranding.com - Premium Domain Names.

Notezi.com - Social Network

ParisArtwork.org - Mid-century Paris NFTs, tokenized on the WAX blockchain.

NewYorkArtwork.org - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible.

ClassicAutomobile.org - Classic Automobile News.