Alapt

Cryptocurrency news

DeFi Pulse: in a week, the DeFi industry "rose in price" by $1.32 billion

DeFi Pulse: in a week, the DeFi industry “rose in price” by $1.32 billion

The dollar value of crypto assets locked in DeFi protocols has increased by $1.32 billion over the past week, despite the slowing growth of the industry.

Despite the slowing growth of the DeFi industry, users continue to place crypto assets in smart contracts. According to DeFi Pulse, over the past week, the dollar value of crypto assets blocked in DeFi applications increased from $11.16 billion to $12.48 billion.

The vast majority of these crypto assets entered the industry in 2020. At the beginning of the year, this figure barely exceeded $1 billion, while on September 18 it reached $13.2 billion. However, in October, the growth of DeFi slowed down
– at the end of October, the dollar value of crypto assets in the DeFi protocols was less than at the beginning of the month.

Over the past week, the prices of some DeFi tokens have increased. According to Coinmarketcap, during the week, the price of the YFI token of the yearn.finance protocol increased by 47% to $15,138, and the value of the AAVE token increased
by 67% to $48.09.

Recall that according to the joint report
The majority of DeFi projects have a high degree of centralization due to the token distribution model, according to the analytical firm DappRadar and the Monday Capital Fund.