DeFi market capitalization exceeded $12 billion

by in DeFi News

Defi

The total value of digital currencies trapped in the DeFi ecosystem has reached a new high.

According to the service DeFiPulse.com, the market capitalization of the decentralized finance market on Friday, October 23, reached $ 12.3 billion. Over the past 48 hours, investors have funneled over a billion dollars into DeFi tokens. Capital inflows into the ecosystem deployed on Ethereum are increasing.

At the same time, in early October, many analysts, on the contrary, predicted that the "bubble" began to deflate. The cost of DeFi tokens renewed its maximum almost immediately after the bitcoin rate reached $13,200.

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The market leader in DeFi is the UniSwap token (UNI). Over the past 24 hours, the capitalization of this project has grown by 1.5% to $ 2.76 billion. UNI's share of the DeFi market now exceeds 22%.

According to the head of DTP Capital, Spencer Noon, the DeFi ecosystem is entering a new phase of its development.

With the upcoming US presidential election, market turbulence continues to intensify. In such a situation, investors usually exit the dollar and look for instruments to generate tremendous and short-term profits. DeFi tokens can take advantage of this trend, the expert predicts.