The digital currency market has begun its upward trend. At the same time, the total value of funds contained in the Decentralized Finance Protocols (DEFI) and the increase in revenues from decentralized applications (dApp) also promise to revive the DIFI domain.
According to Kevin Telegraph, the last month should be divided into two different halves in terms of the situation in the digital currency market. While the prices of digital currencies have been declining since the beginning of the new year, in the second half of this month this downward trend in prices decreased. The strong break of bitcoin above the level of 40,000 dollars managed to restore hope in the markets. The Defy project tokens also followed an upward trend.
Data from Messari, a digital currency market data analysis firm, shows that tokens for most of Difai’s largest assets recorded double-digit gains last month. At the top among them is THORChain, whose token for the RUNE project has grown by 199.81% compared to last month. Also, the price of Aave increased by 53.95% over the same period.
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Below we will briefly look at the state of Difai’s projects and their recent upward trend.
The value of locked funds in defy projects is growing
The best evidence of the return and readmission of investors from DIFA projects can be found by examining the total value of locked funds (TVL) in different areas of DIFA. According to DeFi Llama, the TVL index is currently worth $ 228.05 billion.
However, many Diffi tokens cost less than their historical high. TVL Diffay’s projects are just $ 28 billion less than their record $ 256.62 billion. This shows that the Difai ecosystem has expanded and attracted investors by launching new Chinese blockchain protocols and networks in the last few months.
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Dune Analytics data show that the total number of DIFA users has steadily increased in the new year and now stands at a record 4,562,318 unique portfolio addresses.
NFT markets outperform decentralized exchanges
Decentralized exchanges (DEX) are one of the sub-segments of the default market in which there has been no change in the downward trend. The trend of activity in decentralized exchanges is currently at its lowest level since July 2021 (July 1400).
While evidence suggests that retailers are reluctant to participate in this segment, data from the Token Terminal suggest that other areas of defa are in a different position. Revenues from the best decentralized applications are on an upward trend since the market downturn in February.
The NFTs market, such as OpenSex and LooksRare, had the best performance, generating revenue from decentralized applications in recent months. They were followed by Convex Finance, Uniswap and PancakeSwap.
The total market value of digital currencies currently stands at $ 2.151 trillion, and bitcoin dominance is 41.7%.
The publication After the rise in the price of digital currencies, the total value of funds locked in DIFA projects also increased, first appearing in Digital Currency.
