In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$103,115.00
3.76%$2,306.61
5.67%$2.05
4.37%$630.39
3.79%$138.45
7.00%$0.999897
0.01%$0.272423
3.13%$0.156774
5.35%$2,307.52
5.89%$0.553313
4.72%$102,998.00
3.55%$36.90
8.65%$2,779.22
5.16%$454.09
1.74%$2.59
9.07%$9.07
1.01%$12.11
6.45%$0.234511
4.99%$17.20
7.17%$0.999946
0.01%$2.84
4.29%$47.90
-0.14%$0.00001113
7.33%$82.85
5.73%$1.001
0.11%$2,310.52
5.69%$2,469.53
5.68%$0.141106
8.61%$1.001
0.06%$302.11
1.95%$3.28
3.42%$103,070.00
3.59%$4.06
2.12%$6.65
9.07%$0.00000929
7.41%$0.513379
6.45%$239.66
9.56%$1.18
0.05%$50.94
3.44%$1.00
0.00%$323.76
8.80%$4.09
6.10%$1.057
0.05%$0.081287
2.49%$4.70
5.07%$167.49
6.90%$2.01
8.65%$15.90
6.41%$0.999925
0.01%$0.695997
7.66%$27.31
0.22%$16.51
6.05%$0.590321
1.19%$4.45
0.03%$0.068459
11.03%$3.92
6.85%$8.85
3.95%$0.02020248
7.07%$102,887.00
3.80%$0.079781
13.89%$0.619073
9.67%$0.174496
3.48%$0.248919
9.16%$2.92
8.32%$0.99992
0.25%$2.17
5.54%$4.27
3.57%$1.00
0.05%$0.16804
7.52%$0.285675
8.89%$0.854312
6.85%$2,307.97
6.09%$1.001
0.13%$10.92
1.52%$92.49
4.76%$146.98
6.92%$0.213845
9.56%$1.18
8.50%$0.194538
13.06%$0.01635281
4.71%$1.19
17.11%$0.3673
9.56%$2,627.28
5.64%$2,419.70
5.88%$1.001
0.04%$1.47
7.76%$1.00
0.03%$0.00001289
8.49%$10.12
9.79%$0.987034
15.83%$1.50
15.65%$1.00
0.07%$0.292501
16.52%$3.19
15.91%$0.056661
1.82%$0.520452
9.91%$0.595542
10.14%$3,396.76
-1.48%$2,461.61
5.42%$2,425.29
5.87%$630.18
3.80%$3,383.05
-1.11%$103,008.00
3.76%$104,620.00
6.52%$1.11
0.01%$102,911.00
3.50%$2,429.23
5.87%$0.492291
6.12%$0.07654
6.53%$0.551335
6.33%$0.39669
12.06%$0.734735
11.82%$111.51
0.00%$2.07
6.36%$154.57
6.94%$180.00
6.78%$2.12
7.16%$0.999065
0.12%$0.792788
7.70%$1.087
-0.36%$0.0101535
0.97%$0.0000673
9.44%$40.03
7.41%$2,497.43
5.80%$0.630487
7.70%$0.997817
0.04%$0.673061
5.00%$0.01326839
8.93%$30.04
3.37%$0.243734
7.57%$0.153368
6.85%$17.75
6.35%$102,526.00
3.49%$1.93
5.69%$0.220449
4.41%$0.00000058
3.96%$0.01170609
9.86%$0.00888814
12.14%$3.35
5.22%$102,900.00
3.75%$36.91
8.97%$0.512074
5.75%$0.396466
6.60%$0.090798
8.50%$1.93
8.28%$2,306.96
5.66%$1.00
0.09%$0.505713
4.43%$2,309.05
5.78%$0.317006
6.36%$103,003.00
3.62%$0.998617
0.06%$0.453699
11.13%$2,464.09
5.59%$2,402.76
4.69%$0.250229
8.81%$2,311.36
5.78%$0.581933
6.23%$0.01353996
5.74%$1.30
6.92%$0.418489
3.50%$7.84
1.64%$0.061198
0.43%$0.999907
0.01%$46.37
4.12%$0.999869
0.02%$36.86
8.09%$0.160614
40.74%$1.001
0.14%$2.25
5.32%$1.091
0.04%$1.006
1.63%$0.156596
5.68%$0.0000004
0.96%$1.003
0.45%$1.25
11.57%$0.0382338
10.30%$5.31
8.26%$0.374135
-2.30%$2,301.73
5.16%$0.108924
9.96%$12.88
9.06%$0.00001821
4.78%$0.491374
5.88%$2,454.35
5.45%$2.16
8.35%$0.0060449
11.93%$0.467822
9.12%$0.293226
12.15%$0.03468301
7.92%$0.00397794
16.10%$0.345953
5.70%$0.163029
-3.77%$0.00000087
21.98%$0.899896
10.10%$0.066009
4.72%$1.15
5.07%$1.07
8.69%$5.06
8.71%$0.00357731
4.03%$0.03375167
6.71%$0.32614
2.58%$1.34
8.79%$2,546.13
5.85%$19.57
1.98%$103,783.00
5.48%$0.01661534
-0.07%$102,918.00
3.72%$1.00
-0.03%$0.999825
0.03%$0.99938
0.05%$1.001
0.28%$0.124901
15.40%$2,527.97
5.79%$0.03026162
-1.11%$151.00
7.35%$0.73832
37.51%$2,307.42
5.66%$0.00005396
5.21%$0.00291172
7.58%$9.81
3.27%$0.692313
4.93%$1.036
9.85%$0.427298
5.60%$105.15
5.73%$2,304.17
5.46%$102,905.00
3.09%$0.00325045
5.93%$1.003
0.40%$0.278773
14.29%$0.00000133
-0.49%$1.67
-1.88%$17.20
7.04%$0.057834
8.74%$1.017
0.11%$2,069.12
3.68%$0.570358
5.64%$97,868.00
2.12%$0.174375
3.28%$0.00477077
8.41%$100,604.00
3.63%$0.99949
0.02%$0.542778
12.55%$0.174136
7.94%$0.999901
0.02%$1.20
0.43%$14.02
5.23%$5.67
5.00%Sergey Nazarov, founder of the oracle network Chainlink, thinks the DeFi ecosystem could swell to $1 trillion next year.
Asked about his predictions for crypto during a panel at this year’s Ethereal Virtual Summit, Nazarov said that “the value locked in DeFi will have another zero next to it in the next year. So if it's at $70 billion now, it gets to $700 billion. Maybe it gets to $1 trillion. And ignoring it will become impossible."
Decentralized finance, or DeFi, is an umbrella term for non-custodial protocols—essentially chunks of code that handle your money for you, as opposed to bankers or investment managers. When people talk about the value “locked in” or “locked up” in DeFi, they’re talking about the amount of money users are entrusting to these systems.
The current number is around $80 billion, according to data from the analytics site DeFi Pulse. That’s up from around $1 billion at this time last year.
Popular DeFi projects like AAVE, MakerDAO, and Uniswap have led the charge, reflecting broader trends across the rest of the cryptocurrency market (the total value of the market hit $2 trillion last month).
That Nazarov is shilling for DeFi shouldn’t come as a surprise, given how deeply he’s invested in the space: Chainlink provides data to many of these applications through oracles, which are tools that funnel external (off-chain) data onto a blockchain. They allow programs to absorb information without sacrificing the decentralized aspect.
The Chainlink network’s native token, $LINK, is currently the 11th most valuable cryptocurrency.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.