Decentralized financial tokens experience upswing: Defi-assets exceed broad cryptocurrency markets with double-digit growth

Decentralized financial tokens experience upswing: Defi-assets exceed broad cryptocurrency markets with double-digit growth

Defi-token Experience increase in the markets

The last 24 hours were extremely successful for the top tokens in the area of decentralized finances (Defi) because they exceeded the wider cryptocurrency market. The native tokens of well-known defi platforms such as uniswap, Aave, Compound and Synthetix listed double-digit growth.

According to Coingecko, while the top ten crypto-assets were traded within a narrow range of 2% after market capitalization, defi-assets experienced an upswing on Saturday. Aave and Comp, the tokens connected with AAVE or compound, recorded massive growth of 30%. The Snx token from Synthetix increased by 19% and the uniswap university token recorded an increase of 12%. Other defi tokens such as Curve (CRV), Dydx (Dydx) and Pancakewap (Cake) also showed a positive development with about 7% growth.

In addition to the remarkable price development, the total value defined in Defi protocols and the market capitalization of defi assets in the past ten days also have growth of more than 10%.

defi-tokens showed below average performance and were overshadowed by less well-known meme coins and Bitcoin. Meme coins experienced an upswing in April and became popular in the Bitcoin network due to the increasing use of the BRC 20 token standards, which led to a record high of on-chain activities. In the last ten days, Bitcoin has an increase of 20% and its market dominance achieved a two -year high with over 50%, which is due to the optimistic anticipation for the upcoming halving of Bitcoin in about ten months.

Nevertheless, many users have now shifted their interest in Defi. A recently published report by Dappradar on June 22 shows a revival of on-chain activities for various decentralized defect applications (DAPPS). DAPPRADAR data show that the number of unique wallets that interact with AAVE has risen by 28% this month, while Lido recorded an increase of 17% and has grew by more than a third. In addition, the active monthly users at Pendle have doubled, increased by 30% at POOLTOTETHER and increased by 17% at the POS Chain Bridge from Polygon.

This renewed interest in Defi indicates a change in mood on the market, since retailers and investors recognize the potential and value of decentralized financial protocols. The growing commitment and activity in the defi ecosystem show the growing importance and the growing influence of these platforms in the entire cryptocurrency landscape.