Over $1B is Currently Secured in DeFi because of the Bull Run that Might Happen after the Election

News • 2020/10/26 • by
remitano

DeFi Pulse says the crypto collateral rate closed through different DeFi protocols has achieved the big time $12.3 billion.

After two days, over a billion dollars was added to the total US dollars value. However, accurate figures differ in various analytics platforms.

Major Updates:

  • TVL on Coingecko's tracker recorded about $11.6 billion.
  • The increment conforms with Bitcoin attaining a record of $13,200 (October 21) effectuated by PayPal crypto news.
  • Coingecko recorded the whole DeFi market for every token, alongside DeFi adjacent chainlink, $14.3 billion.
  • The crypto collateral, which closed in DeFi protocols, has rallied to an incredible value of over $12billion.

Further analysis by Messari to measure the leading 46 DeFi projects' performance shows that most tokens are on a downtrend. The significant losers include Sushiswap, Meta, bZx, Auger, Curve, and Swerve.

*Do you think the election will affect this? Share your opinion in the comment section. *

Source: Cointelegraph

Comments (4)
Guest
exodusab
6 years ago
Where BTC will venture next year depends heavily on whether you believe May 2020’s halving event is priced in – which no one can seem to agree on. The rational market theory holds that investors have had years in which to prepare, and thus the slashing of BTC’s block reward should have little effect on pricing. But since when have “rational” and “crypto markets” ever been synonymous? “Bitcoin needs bigger macro catalysts than a marginal 2% point reduction in inflation rates,” believes Messari’s Ryan Selkis. Yele Bademosi of Binance Labs expects that “the lowest price of BTC in 2020 will be higher than the yearly low of 2019 (~$3,300).
freshprinx
6 years ago
The bull run has add great impact to their portfolio, and a high yield in their investments
godgrace1
6 years ago
Yes, i believe the election will affect this, but in a negative way, from my analysis,i think the DeFi will experience a down trend after the election.
visiblemoney
6 years ago
The election will affect drastically because many Defi projects are already showing indications of diminishing marginal returns after the media hypes that misled investors. After election many who staked their asset will pull out and see alternative to Defi failing projects but at the moment we may continue to see more stakings as people get scared of possible hyperinflation or freezing of targeted accounts after US election.
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