Abstract: The momentum of decentralized finance has not slowed down, and the amount of funds poured into this emerging industry continues to reach new heights. Today, the total market value of DeFi has crossed another important threshold.
The momentum of decentralized finance has not slowed down, and the amount of funds poured into this emerging industry continues to reach new heights. Today, the total market value of DeFi has crossed another important threshold.
CoinGecko’s top 100 DeFi tokens by market value exceeded the $8 billion mark today and have been hovering around this number ever since.
Of course, there are various benchmarks for DeFi market value. For example, a website called DeFi Market Cap shows that the total value of the top 100 DeFi tokens is $7.1 billion, but its list does not include Chainlink, the number one token on the CoinGecko list.
Although there are current disagreements on the actual total market value of DeFi, there is no doubt that the estimated total market value has increased substantially in the past few months.
It wasn’t until the beginning of June that DeFi Market Cap set this value at more than $2 billion. Since the website went live in mid-April, this number has doubled.
We have also seen the huge growth of DeFi in other recent data, such as the amount of value locked in DeFi contracts. Just a few days after breaking the US$3 billion mark, the figure reached US$4 billion last weekend. Earlier this week, the crypto data provider Messari reported that more than $ 1 billion Ethernet Square is locked in Defi agreement Maker.
The large amount of money pouring into DeFi is undoubtedly pushing the price of Ethereum up, thereby reducing the supply of Ether.
With all this in mind, people worry that what is actually growing now is the DeFi bubble, which will definitely burst at some point. Decrypt reports on the development of DeFi, including the views of industry insiders. There are disagreements on how much the so-called bubble might have.
“Obviously, we are in the early stages of the DeFi bubble.” said Will Price, a data scientist at Flipside Crypto. “But if DeFi has a chance to become a new financial future, its valuation is still very low.”