- Total Value Locked in DeFi recently breached $15B before dipping back to$14B levels
- The current total value locked stands at $14.66 Billion
- DeFi’s total value locked has a chance at breaching $20B before year’s end
- DeFi tokens are also posting impressive triple-digit gains and high trade volume
The total value locked in DeFi recently reached a new milestone of $15 Billion on Monday, December 7th. The total value locked went on to peak at $15.038 Billion before dropping to $13.851 Billion on 12th December. At the time of writing, the total value locked in DeFi is $14.66 Billion.
The chart below courtesy of DeFiPulse.com provides a visual representation of the total value locked in DeFi in the last month.
$20B Locked in DeFi possible Before EOY
According to the recent DeFi report by the team at DeFiPulse, the total value locked can very much hit $20 Billion before the end of the year.
It’s been a year of rapid growth for DeFi, then, and at this rate (and considering how DeFi can move in incredible fits and bursts, particularly lately), the possibility of hitting the $20B TVL milestone by the end of 2020 doesn’t seem out of the question.
There’d still be a decent amount of ground to cover, of course, as DeFi’s TVL has since ceded from Monday’s top to ~$14.05B currently. With $15B now notched, though, $20B and beyond seems more in reach than ever.
DeFi tokens Posting Impressive Triple-digit Gains
The report went on to point out that the last week was a good one for DeFi tokens with some posting impressive triple-digit gains.
Lastly, when it comes to top DeFi tokens, some of the best-performing assets from the past week included IDLE (+400%), COVER (+150%), FARM (+16%), INDEX (18%), and COMP (13.8%). The DeFi Pulse Index (DPI) declined 7% on the week to $94.46.
DeFi Tokens Exhibit High Monthly Trade Volume
From the above analysis, it can be concluded that the DeFi realm is once again alive and kicking. This fact was also pointed out by the team at CryptoRank Platform who highlighted that ChainLink was the most traded DeFi token in the month of November. According to their analysis, Chainlink trade volume hit $14.91 Billion followed by Yearn Finance at $10,74 Billion.
The analysis by CryptoRank Platform on DeFi token trade volume for the month of November, can be found in the screenshot below.
Ray Schuetz received a Masters Degree in computer science from The University of Texas (Austin). Ray has been working as a full-time blockchain consultant for the past 3 years. In his spare time, Ray enjoys writing for EthereumCryptocurrency.com and other crypto news publications.