Meta Digest

DeFi’s Total Value Locked Currently Reached An All-Time High

Source: 1inch

The $4 billion worth gap between the decentralized finance total value locked and an all-time high could be closed using new implementations from AAVE, Curve & Spell token. 

The crypto market is currently in an upward trend, with many people predicting that it will continue to rise by 2022. The DeFi sector has been one of the faster growing parts and it may be an echo of last year’s bullish market.

Despite Bitcoin facing challenges, which usually puts bearish pressure on other cryptocurrencies too, crypto traders are finding victory in numbers as five out of the top 10 DeFi protocols have seen their tokens post double digit gains over 30 days. 

The data clearly shows that Aave (AAVE), Curve (CRV) and Spell Token (SPELL) have surpassed the mass of crypto platforms. 

The DeFi capabilities of AAVE have been expanded with the introduction of real-world assets (RAW) on December 28 of last year that users can borrow against. These include tokenized forms like those in cargo, freight invoices, and payment advances. 

Curve and Abracadabra Money’s integration of stablecoins across the DeFi ecosystem has caused the boost of their status as integral components in this new and exciting financial world. As such, it can be no surprise that Curve and Abracadabra Money tokens are experiencing significant price growth thanks primarily to these innovations. 

A good indicator that there’s a big change happening can also appear by looking at metrics such as active users who use crypto wallets regularly; total value locked which represents how much money people have sent off into cyberspace without ever being touched—these numbers are likely going higher than you think. 

The number of individual users in DeFi is progressively increasing and has lately reached the highest record of 4,304,478 unique wallets, as per the data presented by Dune Analytics.

Besides that, decentralized exchanges (DEXs) have also seen rapid growth over the past months. Data shows that a higher DEX trading volume was seen in May 2021 than in November and December 2021, as per Dune Analytics. 

The volume traded on decentralized exchanges in the first days of January has already exceeded the volume during the whole month of July in 2020, when the “Summer of DeFi” was beginning to attain traction. This is how far the DeFi ecosystem has come in the last two years.

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