Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$100,683.00
4.52%$3,816.29
6.39%$2.37
4.88%$226.72
5.90%$716.36
7.74%$0.409745
7.92%$0.999373
-0.18%$1.085
10.53%$3,812.99
6.32%$0.282942
7.30%$48.94
12.84%$0.00002879
9.72%$6.43
10.29%$4,534.27
5.92%$24.18
12.64%$4.66
29.33%$9.02
10.90%$100,419.00
4.51%$0.430756
5.16%$0.291303
5.84%$545.29
7.42%$0.00002468
12.92%$3,817.52
6.52%$17.05
14.12%$117.50
9.55%$9.48
0.06%$6.86
10.06%$13.56
20.24%$4,025.16
6.46%$13.07
13.68%$1.001
-0.14%$15.91
19.31%$0.633615
13.24%$0.998249
-0.43%$33.64
15.66%$9.59
12.76%$0.181822
8.44%$0.058782
9.78%$1.82
10.82%$617.01
10.88%$303.50
14.93%$1.32
13.20%$3.19
16.60%$0.163196
6.30%$1.003
10.87%$6.71
11.59%$4.23
8.53%$203.11
14.50%$0.446821
9.85%$24.98
0.68%$2.39
13.05%$1.26
12.03%$8.76
13.56%$7.33
13.20%$55.00
5.88%$1.89
12.42%$1.057
20.12%$3.05
9.40%$0.00003922
13.75%$2.35
9.60%$29.03
9.65%$0.287836
13.24%$1.80
10.53%$2.59
11.54%$4.51
23.50%$0.616388
15.14%$3.13
14.37%$0.00024313
11.48%$3,826.98
6.76%$0.052567
18.71%$6.33
7.25%$0.04349017
12.40%$141.65
5.98%$0.03847464
18.93%$100,738.00
4.59%$4,285.84
6.45%$0.779896
16.12%$3,935.93
6.55%$1.83
19.59%$0.181915
13.01%$4,012.85
6.49%$1.00
0.15%$1.93
8.24%$1,885.71
9.32%$1.091
8.99%$0.02945642
5.68%$0.442556
11.70%$13.37
6.22%$0.712141
1.01%$5.50
13.43%$0.269905
9.76%$12.47
6.83%$2.19
20.12%$3,928.46
6.24%$23.57
10.86%$1.14
11.43%$0.978418
11.79%$2.13
12.43%$1.48
7.05%$0.656986
10.61%$100,770.00
4.85%$0.142755
-4.73%$0.397381
11.51%$8.08
2.43%$17.53
6.41%$3.23
0.40%$1.087
7.75%$100,847.00
4.79%$66.84
7.76%$0.088902
-2.48%$39.52
16.42%$1.16
8.83%$47.02
10.18%$0.00000134
11.42%$18.37
12.93%$1.29
27.76%$0.00000322
1.73%$282.37
6.45%$0.634764
12.95%$7.97
11.61%$1.25
8.65%$0.654243
13.69%$1.28
10.05%$231.76
6.68%$1.53
10.00%$0.118826
20.46%$3,827.96
7.12%$3.97
11.60%$4,011.81
6.39%$5.04
18.96%$100,271.00
4.72%$0.214002
11.26%$3.51
10.00%$6.14
7.90%$4.05
11.47%$63.34
11.26%$2.93
11.52%$2.13
12.66%$0.80732
11.11%$1.49
4.75%$0.344279
13.94%$2.10
11.90%$0.00941198
14.82%$241.11
6.23%$103.89
11.82%$100,335.00
4.46%$0.01296153
26.30%$0.00004491
11.44%$0.00000001
12.96%$3,820.01
6.58%$0.237697
12.12%$0.00844058
16.28%$3,816.88
6.28%$0.411723
8.72%$0.77542
40.02%$0.929841
13.73%$15.79
14.82%$2.17
13.62%$0.998841
-0.22%$0.01471528
10.73%$0.115955
12.05%$0.00963131
5.24%$0.00862793
16.03%$0.368569
14.48%$36.30
11.24%$3.13
13.45%$6.84
15.36%$0.997963
-0.15%$0.00013355
10.56%$0.00175208
16.81%$277.35
8.24%$0.762245
13.13%$0.715833
9.87%$4,139.11
6.47%$0.489843
17.12%$5.14
-23.66%$2,720.23
0.51%$0.665625
21.26%$1.29
8.52%$100,954.00
6.28%$0.01430644
10.34%$3,816.83
6.54%$0.067233
8.18%$0.995309
-0.07%$2.02
10.79%$0.581561
11.76%$17.15
14.28%$38.46
10.88%$0.0086236
11.65%$1.45
19.47%$0.00000059
6.60%$5.86
14.50%$0.00329121
13.22%$48.27
8.90%$3,822.41
6.49%$1.36
8.85%$0.075467
11.99%$100,636.00
4.83%$0.297602
9.74%$3,820.24
6.71%$2.63
13.14%$0.080702
13.27%$0.02825447
10.63%$0.998931
-0.28%$0.00692396
5.94%$9.46
1.48%$0.302694
13.23%$0.077985
5.60%$2,697.24
0.19%$0.626729
16.69%$0.200836
10.19%$4.18
26.24%$0.52033
25.86%$0.00000419
8.98%$0.00690106
5.12%$0.539409
19.44%$100,372.00
4.56%$0.00000024
9.27%$1.019
0.97%$6.10
4.38%$4,103.80
6.55%$0.878897
10.42%$3,947.32
4.98%$27.65
12.60%$0.04756202
14.63%$0.01429791
10.52%$6.02
3.12%$0.66871
10.01%$0.04955819
11.21%$1.15
9.04%$57.57
12.23%$1.65
-5.92%$0.50778
12.78%$1.10
11.22%$4.19
12.31%$2.04
10.01%$0.085003
17.05%$0.04451217
7.05%$3,816.98
6.47%$4.14
10.70%$1.47
11.35%$2.26
14.49%$1.045
-3.75%$0.289658
11.78%$4,221.62
6.33%$0.03523854
6.51%$0.43214
10.26%$0.740688
14.05%As August gave way to September, some DeFi tokens likewise made way near the top of the DeFi market cap rankings for UMA.
On Tuesday of last week, UMA had a market cap of around $392 million, according to data from CoinMarketCap. A week later, UMA's market cap is north of $1.1 billion. That's enough to put it in second-place behind Chainlink, which has a massive $5.6 billion market cap.
The movement places UMA above yearn.finance, which at this point last week had a market cap of $404 million. While yearn.finance has grown at an explosive rate, it hasn't grown quite as explosively as UMA, instead settling in at around $950 million mark today.
Also in the mix is current DeFi darling Aave, which is relatively stable, at least as far as decentralized finance goes. It's moved downward, from $988 billion to $957 billion, over the last seven days.
With the market cap for some DeFi coins doubling in the course of a week, it means that tomorrow, of course, things may look very different. Sushi, for example, didn't exist last week. Now, it has a market cap of $188 million, good for 74th on CoinMarketCap's rankings.
UMA, short for Universal Market Access, refers to itself as a "decentralized financial contracts platform." Its token uses the ERC-20 standard from the Ethereum blockchain, allowing users to create their own synthetic tokens—and derivatives contracts.
In the Wild West world of DeFi, of course, users are looking to create more than just tokens. They're in it for the money. And there's a lot of it trading hands at the moment. How valuable all those assets will be this time next week, however, is anyone's guess.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.