Whole DeFi Industry Dominated by Just Two Applications

According to DefiLIama's data, the difference between the second and the third biggest protocol on the network amounts to more than $2 billion; between the first and the third place — almost $3 billion.The first place is held by the biggest decentralized stable currency, DAO. However, the protocol's TVL did not reach such a high number only because of the decentralized stable currency.

The second place on the DeFi market is held by Lido Finance, a protocol we have covered numerous times. Lido Finance allows users to increase the liquidity of their staked assets by exchanging cryptocurrencies like ETH to stETH tokens. Since the coin lock period for Ethereum remains undisclosed, investors choose Lido to have the ability to manage their ETH while it remains in staking.

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DeFi sparks new investments despite turbulent market: Finance RedefinedData from Cointelegraph Markets Pro and TradingView show that DeFi’s top 100 tokens by market capitalization had a volatile bearish week due to the FTX saga, with the majority of the tokens bleeding throughout the week. Investment = buying tokens for 0.001¢ of course nothing will slow down when they know they can dump on retail for 100x. DeFi is kinda great. And Tether supports its growth as well.
Source: Cointelegraph - 🏆 562. / 51 Read more »