Defi Flies to New Highs

defi market new high jan 2021

The Decentralized Finance (DeFi) ethereum ecosystem has far surpassed its previous all time high. The combined market cap of all defi tokens is now nearly $34 billion, handling some $13 billion in trading volumes. That’s considerably more than the $18 billion peak during the defi summer of 2020 as pictured above. There’s numerous tokens now with a market cap above $1 billion, Aave rising to the very top of them all. Unlike cryptos, these tokens are kind of like traditional publicly traded companies with revenues and profits as well as an equivalent of token dividents. Uniswap for example has processed $2 million in fees during the past 24 hours for their 28,500 trading pairs. These fees go to token holder with some going to liquidity providers, making these dapp systems amount to effectively decentralized autonomous organizations (DAOs) governed by the token holders. Synthetix thus has risen to $2.3 billion, with…

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