DeFi update: ANY jump as API3 and JOE rise by double digits

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

As of Friday, October 8, 2021, DeFi Llama data shows the total amount of locked assets in the decentralized financial ecosystem. $ 208.03 billion show how.

According to CoinGecko data, the total market capitalization of DeFi protocols is $ 131.02 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
Anyswap (ANY) $ 10.20 32.1% 57.9% $ 174,658,330
API3 (API3) $ 4.27 18.6% 33.6% $ 159,866,840 $
JOE (JOE) $ 2.78 16.5% -8.8% $ 269,688,730 $
Wonderland (TIME) $ 5,057 12.4% 61.8% $ 406,984,659 $
Injection protocol (INJ) $ 12.31 11.9% 26.9% $ 402,677,516

DeFi protocols that get the most value in 24 hours. Source: CoinGecko (Friday, October 8, 2021)

On the morning of Friday, October 8, 2021, the most valued DeFi protocol in the last 24 hours 32.1 percent with Anyswap (ANY) it happened. Total market value of the protocol for $ 174,658,330 reaching 1 Anyswap (ANY) at $ 10.20 began to change hands.

The second most valued protocol in 24 hours is 18.6 percent with an increase API3 (API3) registered as. API3 (API3) from $ 4.27 it is being negotiated. 16.5 percent going up to the beat JOE (JOE) protocol $ 2.78 level.

According to the shared data, 12.4 percent increasing rate of Wonderland (TIME) $ 5,057.11 and right after 11.9 percent growing Injection protocol (INJ) if the protocol $ 12.31 dollars it is negotiated.

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

Token name Price 24h 7g Market value
STP Network (STPT) $ 0.174 -24.4% 193.8% $ 215,627,998
Ribbon Finance (RBN) $ 3.81 -13.9% $ 141,749,251
Mirror protocol (MIR) $ 3.13 -9.4% 9.3% $ 337,033,764 $
Badger DAO (BADGER) $ 22.67 -6.2% 41.0% $ 219,922,887
PancakeSwap (PASTEL) $ 19.48 -6.1% 3.2% $ 4,469,507,055

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Friday, October 8, 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 $ 215,627,998 calculated and 24.4 percent decreasing in STP Network (STPT) protocol $ 0.173919 dollars is marketed as.

13.9 percent falling in rate Ribbon Finance (RBN) at $ 3.81 while processing, 9.4 percent depreciating Mirror protocol (MIR) Yes $ 3.13 level.

In addition, the data 6.2 percent falling Badger DAO (BADGER) protocol from $ 22.67 when changing hands 6.1 percent decreasing in PancakeSwap (PASTEL) $ 19.48 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 abuse.

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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