The value of crypto locked in DeFi has passed $3B; Will this propel token prices higher?
BTC $9372 (+0.1%) • ETH $245 (+0.3%) • XRP $0.20 (+1%)
|CryptoSlate||Jul 22|| 4|
There’s now over $3 billion worth of crypto locked within the decentralized finance ecosystem.
This marks a stunning 200 percent climb from what this number was just over a month ago, with this growth backing the strong uptrend seen by many DeFi-related tokens.
It appears that a few primary factors are backing the growth this metric has seen, including the launch of new protocols and tokens, yield farming’s mounting popularity, and an increase in the amount of value locked within decentralized exchanges and derivatives.
For the relatively small DeFi token sector to continue extending its parabolic growth, users must continue heavily interacting with protocols.
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