$83,313.00
-2.54%$1,588.57
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-2.55%$127.24
-4.26%$0.9999
-0.01%$0.162403
-3.59%$0.25235
2.30%$0.63492
-3.98%$1,587.47
-3.85%$83,321.00
-2.42%$9.31
-0.09%$19.46
-5.16%$12.51
-5.37%$0.235682
-4.20%$2.21
-7.20%$1.00
0.01%$0.00001201
-4.47%$2.82
-6.79%$0.164346
-6.31%$343.17
-0.62%$1,904.71
-3.76%$77.19
-2.04%$3.63
-2.83%$1.001
-0.12%$4.27
-3.31%$15.14
-8.43%$0.999147
0.00%$0.726932
-1.61%$1,588.35
-3.81%$27.76
0.04%$202.92
-2.22%$1,691.39
-3.73%$5.30
-4.08%$52.95
-1.45%$83,220.00
-2.68%$0.00000718
-3.72%$4.79
-3.74%$22.42
-1.76%$33.60
2.39%$0.84838
-7.41%$2.10
-5.74%$1.047
-0.03%$1.00
0.00%$4.99
-4.76%$0.691393
-1.82%$0.084759
-5.84%$15.19
-2.71%$1.16
0.03%$137.73
-7.48%$238.42
-6.79%$0.02254785
-3.36%$3.72
-4.91%$0.072911
-5.34%$4.11
-6.11%$0.998324
0.00%$4.05
-0.05%$83,242.00
-2.28%$0.308507
-10.81%$8.18
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-4.34%$0.182197
-4.24%$0.180644
-5.64%$0.482585
-9.10%$2.40
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-4.13%$3.73
-2.36%$83,309.00
-2.12%$0.496682
2.10%$10.30
-2.00%$0.077814
1.79%$1,353.83
-3.91%$0.665497
-3.77%$0.380264
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-4.59%$0.01652211
4.78%$1.11
-82.38%$1.001
0.22%$1.019
-2.89%$0.00001259
-9.46%$66.33
-3.25%$1,589.26
-3.91%$0.610009
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-11.95%$1,651.57
-3.86%$1.00
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-0.02%$3,236.44
-0.08%$0.794177
-9.61%$0.594313
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-5.91%$0.409564
-5.81%$0.299809
-12.54%$583.20
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0.05%$0.997983
0.03%$0.703473
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-2.29%$3.63
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3.12%$0.709537
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-3.82%$139.82
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-11.84%$1.88
-6.53%$28.05
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-3.40%$0.00005688
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0.04%$0.523533
0.19%$0.500133
-10.14%$3.21
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-0.30%$1,660.17
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-0.02%$0.419156
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-5.27%$1.10
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0.54%$83,188.00
-2.44%$3.88
-8.48%$0.162253
-3.74%$0.543431
-6.35%$83,086.00
-2.72%$1.48
-14.81%$1.96
6.37%$0.00722162
-7.35%$1.08
-0.00%$0.996086
-0.67%$1.13
-4.60%$110.66
0.00%$13.82
-5.33%$1,660.49
-3.77%$0.00001933
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-3.76%$0.999875
0.05%$83,083.00
-2.29%$22.55
0.23%$5.21
-6.38%$0.123883
-7.54%$40.36
-3.83%$2.24
-7.60%$1.00
0.03%$77,106.00
0.00%$0.539747
-10.98%$0.068645
-8.44%$0.03692712
-8.16%$0.997675
-0.03%$1,586.74
-3.80%$5.28
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13.92%$0.413453
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0.05%$0.070837
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-0.04%$0.999437
-0.05%$0.121756
-6.09%$0.182352
-4.14%$0.00005842
-3.72%$0.762554
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-9.30%$0.03126524
1.49%$0.134106
-3.29%$0.03116708
2.33%$0.263663
-8.36%$0.00584376
-12.17%$3.86
-8.89%$0.00000149
-4.96%$0.00357545
-6.18%$0.149952
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0.01%$1,586.67
-3.81%$0.303948
-6.61%$1,607.74
-3.97%$0.138151
-3.07%$107.46
-1.58%$3,219.19
-0.52%$83,281.00
-2.35%$2.38
-10.37%$83,074.00
-2.46%$1.049
-10.75%$0.258478
0.33%$2.69
-1.13%$0.56272
-3.44%$1,572.15
-3.83%$0.206532
-7.86%$0.56223
-5.93%$20.48
-4.07%$1.00
0.00%$0.482398
-3.04%$21.94
-0.91%$0.423159
-9.04%$1,586.48
-3.84%$0.240503
-11.21%$0.168904
-5.41%$0.02768677
-7.63%$1,677.98
-3.66%$19.41
-5.62%$0.960148
-7.80%$1,671.73
-2.59%$0.00037238
-9.69%$0.999663
0.12%$0.03230232
-5.48%$0.095097
-6.78%$13.25
-5.24%$0.01091371
-4.90%$1,740.47
-3.67%$0.999935
0.02%$0.621114
-8.32%$83,203.00
-2.53%$1,726.18
-3.72%$0.00279795
-4.09%$1.97
-2.44%$2.61
-9.02%$0.00229901
-11.54%$0.00436703
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0.02%Reading
The recent growth of Ethereum’s decentralized finance (DeFi) ecosystem may be significantly overstated, according to a report published by decentralized app (dapp) tracker DappRadar on Tuesday.
DappRadar analyzes one of the biggest #DeFi protocols MakerDAO.
- The TVL on @MakerDAO surpassed $1.5 billion.
- The #TVL in the top 3 tokens on #MakerDAO increased by almost $800M.
- The inflation-adjusted value showed an increase of only $200M.https://t.co/avJVwhqkPf
— DappRadar (@DappRadar) August 19, 2020
One of the most commonly used metrics in the DeFi space is the total dollar value locked (TVL) statistic. It details how much value is locked up in applications within the DeFi space. Funds might be locked up in lending apps, or held as liquidity for trading on decentralized exchanges. And it’s been growing at a surging rate.
In July, the TVL locked in DeFi hit $3 billion for the first time. One month later, that number has doubled to $6.3 billion. And it shows no sign of slowing down. However, DappRadar argued that the actual growth of DeFi could, in reality, be much less explosive.
“To conclude, 75% of the total value locked increase was fueled by a token price,” DappRadar stated, implying that just 25% of the recent growth was due to money moving into the industry.
DappRadar analyzed MakerDAO, the top DeFi lending platform that is responsible for 24% of the total value generated in the sector (around $1.5 billion). It discovered that 97% of its TVL is locked in Ethereum (73%), Wrapped Bitcoin (8%) and its own governance token MKR (17%). And the prices of all three increased notably over the past month.
“All 3 tokens faced an increase in value within the 30 days period. It raises the question, how extensively token price affected the TVL metric,” DappRadar noted, adding that because of this, “Total value locked in dollars can deliver a distorted view of the category development.”
For example, if the token’s price doubles, this will result in the corresponding surge in the TVL. But if the number of actually staked tokens doesn’t change, this means that no new assets are flowing into the DeFi app.
A record high of $6 billion worth of crypto is now locked in decentralized finance (DeFi) smart contracts, according to data analytics site DeFi Pulse. The new milestone edges Friday’s high of $5 billion, and comes as dozens of Ethereum-based financial products are drawing millions of dollars of investment amid market surges — and collapses. DeFi mainstays Maker, Curve, Aave and Curve Finance lead the pack, with some $4.2 billion locked in between them. DeFi products produce dividends on loc...
While there was a tremendous increase of around $800 million in the TVL of MakerDAO’s top-3 tokens, the real growth amounted to no more than $200 million when an inflation-adjusted value is taken into account, the researchers noted.
Professor Andrew Urquhart is Professor of Finance and Financial Technology and Head of the Department of Finance at Birmingham Business School (BBS). This is the fifth instalment of the Professor Coin column, in which I bring important insights from published academic literature on cryptocurrencies to the Decrypt readership. In this article, we’ll investigate cryptocurrency adoption. Cryptocurrencies are clearly growing in terms of size, scale and types of offerings, which altogether indicates t...
Ross Ulbricht, the founder of Silk Road, will make his first public appearance since his release from prison earlier this year, speaking at the Bitcoin Conference in Las Vegas from May 27 to 29. The news, announced by Ulbricht on X on April 10, follows a presidential pardon by Donald Trump in January that saw the end of his incarceration. Trump granted Ulbricht a “full and unconditional pardon,” citing support from the Libertarian movement and calling the sentence “ridiculous.” From 2011 to 201...
Increasing tariff implementation under President Donald Trump may be influencing a near-term price decline for Bitcoin, but a Grayscale report suggests that the changing global trade dynamics could benefit the top crypto asset. The crypto asset manager’s report suggests that tariffs and their contribution towards stagflation—an economic state in which there is high or growing inflation alongside low or slowing GDP—may ultimately lead to underperformance of traditional assets. However, historica...
