Summary (IA Generated)
The decentralized finance sector continues to charge full steam ahead as multiple tokens notch new all-time highs and the total value locked in DeFi protocols grows with the passing of each week.
Data from Messario shows projects like AAVE, Uniswap (UNI), SushiSwap (SUSHI) and Synthetix (SNX) have all rallied by double-digits, creating a positive feedback loop as more users engage with the protocols to yield farm and capitalize on flash loans.
As the price of Bitcoin (BTC) and Ether (ETH) reached new highs in recent months, the total value locked (TVL) in DeFi has risen as well, increasing optimism and engagement on the various DEXs and lending platforms.
Data from CoinGecko shows that in the past 6 months the DeFi total market capitalization has grown to $45 billion.
Total market cap of all DeFi tokens.
1 to Jan.
25, DeFi platforms have collectively seen the TVL rise from $15.
In fact, according to DeFi Pulse, the total value locked across DeFi protocols increased from $21.
] This sharp increase in TVL was helped by a $400 surge in the price of Ether from $1,053 on Jan.
21 to a new all-time high of $1,459 on Jan.
25, but Ether can’t account for all the gains as shown by the increasing number of DeFi tokens which are also securing new all-time highs.
Total value locked in DeFi.