DeFi Industry Ups and Downs – CQT – JOE

We share daily data from the decentralized finance ecosystem (DeFi) with you.

As of Friday, October 1, 2021, DeFi Llama data shows the total amount of locked assets in the decentralized financial ecosystem. 178.34 billion dollars show how.

According to CoinGecko data, the total market capitalization of DeFi protocols is $ 117.21 billion is calculated as.

Total Assets (USD) locked in DeFi. Source: DeFi Llama

TOP 5 – Most profitable DeFi protocols in 24 hours

Token name Price 24h 7g Market value
Covalent (CQT) $ 1.00 10.4% -9.4% $ 125,443,119
Amplifier (AMP) $ 0.049 8.1% 0.5% $ 2,336,441,828 $
Augur (REP) $ 20.69 7.1% -7.2% $ 136,315,838
Terra (Moon) $ 37.81 6.8% 3.8% $ 15,126,526,386
RAMP (RAMP) $ 0.277 6.3% -8.6% $ 100,804,284

DeFi protocols that get the most value in 24 hours. Source: CoinGecko (Friday, October 1, 2021)

On the morning of Friday, October 1, 2021, the most valued DeFi protocol in the last 24 hours 10.4 percent with Covalent (CQT) it happened. Total market value of the protocol $ 125,443,119 reaching 1 covalent (CQT) at $ 1.00 began to change hands.

The second most valued protocol in 24 hours is 8.1 percent with an increase Amplifier (AMP) registered as. Amp (AMP) from $ 0.04873482 it is being negotiated. 7.1 percent getting up to the beat Augur (REP) protocol $ 20.69 level.

According to the shared data, 6.8 percent increasing rate of Terra (MOON) $ 37.81 and right after 6.3 percent growing RAMP if the protocol $ 0.277492 dollars it is negotiated.

TOP 5 – DeFi protocols that lost the most value in 24 hours

Token name Price 24h 7g Market value
JOE (JOE) $ 2.89 -15.6% -30.5% $ 266,752,158 $
Convex Finance (CVX) $ 7.93 -13.2% -30.0% $ 219,715,181 $
dYdX (DYDX) $ 23.32 -11.1% 67.3% $ 1,198,338,493 $
DerivativeDAO (DDX) $ 6.04 -7.1% 11.7% $ 157,994,789 $
Bonfida (IFAD) $ 5.99 -6.9% -6.2% $ 293,880,939 $

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Friday, October 1, 2021)

Based on shared data, when we look at the declining names of the decentralized finance (DeFi) sector in 24 hours, the total market value $ 266,752,158 calculated and 15.6 percent decreasing in JOE (JOE) protocol $ 2.89 is marketed as.

13.2 percent falling in rate Convex financing (CVX) at $ 7.93 while processing, 11.1 percent depreciating dYdX (DYDX) Yes $ 23.32 level.

In addition, the data 7.1 percent falling DerivativeDAO (DDX) protocol to $ 6.04 when changing hands 6.9 percent decreasing in Bonfida (IFAD) $ 5.99 it was negotiated.

What is decentralized finance (DeFi)?

DeFi, which is an abbreviation of the words decentralized and finance, is called a financial structure that does not need any center or authority. DeFi, which is basically based on blockchain networks, is among the most important developments for the creation of next-generation digital currency infrastructures.

In DeFi structures, it is aimed not only at providing decentralized financial services, but also at providing trust to participants. Because the absence of someone in the administration means preventing abuses.

Smart contracts, consensus protocols and decentralized applications (Decentralized Application – DApp), which are based on the logic of “if this condition is met, it will be carried out” and will operate automatically, are among the important parts of the decentralized financial structures.

For detailed information: What is DeFi? What does decentralized finance mean?

The opinions and comments expressed in this document are solely to the author belongs. It may not reflect the views of Cointelegraph. Every investment and trade movement involves risk. You should do your own research when making a decision.

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