Large institutional transactions increase the total value blocked in defi to $ 239 billion
Large institutional transactions increase the total value blocked in defi to $ 239 billion
- transactions of more than $ 10 million became the largest segment of defi transactions according to volume
- According to Chainanalysis, Hacker made themselves in 2021 with cryptocurrencies worth $ 3.2 billion
The total value bound in Defi rose to $ 239 billion in 2022, according to a new study of $ 601 million at the beginning of 2020, which corresponds to an increase of almost 40,000 %
The author of the report, the blockchain data provider Amberdata, said that the massive increase is "still in the early stages", and added that the total value (TVL) should "increase dramatically" in the next few years if institutions entered the market. Large institutional transactions that the blockchain analysis company Chainalysis defines with over $ 10 million, became the largest segment of defi trade (decentralized finances) from the fourth quarter of 2020 and grew to over 60 % of the transaction volume by the second quarter of 2021. Even if more capital floods the defi protocols, the industry remains susceptible to hacks. In 2021, according to Chainanalysis, Hacker made themselves Data .
ronin Network, a sidechain connected to Ethereum, which is used for the blockchain gaming group Axie Infinity, was injured at the end of March for around $ 600 million, or 173,600 ether , and 25.5 million USDC. Federal investigators later confirmed that Hacker Lazarus Group, based in North Korea, led the hack. The Defi protocol Wormhole suffered a $ 326 million hack in February-at that time the second largest incident. The biggest hack in Defi and in the entire crypto technology is still the 600 million dollar hack from Poly Network in August 2021. The crime was given to a person called "Mr. White Hat", who later was offered a security position at the interoperability protocol in an interesting turn. Despite increasing security concerns, Amberdata researchers insist that applications for defi technology are only currently being created, especially when it comes to financial infrastructure and efficiency. Defi can offer new solutions for data storage, which means that financial services companies could save resources for infrastructure development, according to the Amberdata report. "For example, a retail bank that maintains ATMs and branches must maintain data connections between these endpoints, your corporate offices and the data centers in which this data is stored," the researchers wrote. "This bank could use a defi solution on a private blockchain that only reduces the data center requirement to what is required for the maintenance of blockchain nodes." defi-capable smart contracts can also shorten processing times and support complex financial transactions. "In 2021, the value of the global financial service market was estimated at more than $ 23.3 trillion, which means that Defi is currently about 1 % of the total amount," the report says. "An increase to only 5 % would result in flowing into the room via a trillion dollar." . . The contribution Large Institutional Transactions Push Total Value Locked in Defi to $ 239b is not a financial advice.