The amount of assets locked in decentralized finance (defi) has jumped again to $4.75 billion.
That makes it a 5x increase in just two months with Maker’s smart contracts holding some $1.45 billion by themselves.
4.5 million eth are now defing, and 24,000 bitcoins are also doing so in a tokenized form.
Little movement here in ranking except wBTC is nearing $220 million, almost as much as Curve which is to launch their token imminently.
Flexa might be new to some of you. That’s a fairly interesting payment app that has some sort of tokenized insurance fund based on collateralization for fraud or double spends.
But there has been a lot more activity in market cap and specifically for linky which is now close to overtaking Bitcoin Cash.
Chainlink is worth some $14 billion in a fully diluted market cap, a bit more than XRP which is currently at $13 billion.
Making Chainlink an obviously hyped 4chan shilled Jason Parser token with a lot of shenanigans, but then XRP isn’t that much better.
Only dai has a lower fully diluted market cap here, probably some glitch, but Compound is apparently worth $2 billion.
Whether that makes this a livestreamed inflation watching of brrr, or something else, isn’t too clear but there clearly is something going on here.
In addition if we take out the ‘decentralized’ oracle project, Chainlink, there has been a $2 billion rise in defi tokens’ market cap from about $5 billion two weeks ago, to now $7 billion.
There’s a defi index, so if you’re lazy and just want to diversify the basket, you can just buy that with it obviously very unclear currently how this defi index interacts with eth itself or bitcoin price wise because it is very new.
But at least for July defi grew very fast with it then feeding into eth, which in turn pushed up bitcoin, making it all complementary.
