Defi Nears $8 Billion in Market Cap

snx options dapp on ethereum july 2020

Ethereum based decentralized finance is now worth $8 billion according to data from Coingeko, aa crypto markets stats page. Defi is now worth about 20% of ethereum’s market cap which itself has reached $40 billion, with defi tokens handling some $1.4 billion in trading volumes for the past 24 hours. This $8 billion however is just 2.3% of the global crypto market cap and less than 5% of bitcoin’s $206 billion market cap. Chainlink is more a backend than defi, making it a $5 billion market cap without it. That’s close to a doubling of the $3 billion it reached on the 5th of July, indicating significant growth with snx for example up 11% in the past 24 hours. Synthies have options now as pictured in the featured image, including an option for BTC to reach $100,000 by January 1st 2022. Now that’s a damn good option, but they don’t…

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