2022 rise of DeFi tokens

Written By Eleman

Many projects in the cryptocurrency world are experiencing declines. However, some projects in Defi projects continue to rise. While the crypto currency crisis in 2022 continues, there are developments that make investors smile.

As of May 16, the decentralized finance ecosystem began to rise together. Positive developments regarding the increase in value in Defi projects continue in the coming days of 2022.

We share with you daily data of the decentralized finance (DeFi) ecosystem.

As of Monday, May 16, 2022, DeFi Llama data shows the total amount of locked assets in the decentralized finance ecosystem as $112.93 billion.

According to CoinGecko data, the total market capitalization of DeFi protocols is calculated at $53.54 billion.

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Positive rises in DeFi protocols

Defi Token NamePrice24h7dMarket value
Beefy.Finance (BIFI)957,24$111,6%-5,7%73.201.026$
Nerve Finance (NRV)0,0066$13,7%-52,8%49.140.900$
Osmosis (OSMO)1,67$8,7%-50,7%618.038.444$
Dopex Rebate (RDPX)45,75$8,5%-46,5%49.903.895$
Dopex (DPX)446,91$6,7%-41,3%84.529.041$

As of Monday, May 16, 2022, the most valued DeFi protocol in the last 24 hours was Beefy.Finance (BIFI) with 111.6 percent. While the total market cap of the protocol reached $73,201,026, 1 Beefy.Finance (BIFI) started changing hands at $957.24.

The second most valuable protocol in 24 hours was Nerve Finance (NRV) with an increase of 13.7%. Nerve Finance (NRV) is trading at $0.00662260. The Osmosis (OSMO) protocol, which has risen by 8.7 percent, is at the level of $1.67.

According to the shared data, Dopex Rebate (RDPX), which has increased by 8.5%, is $ 45.75, and Dopex (DPX) protocol, which has increased by 6.7 percent, is traded at $ 446.91.

Although there are increases among DeFi protocols, decreases continue in some projects. Investors seem to have been affected by the negative atmosphere that developed after the FED’s latest statements.

The most falling among DeFi protocols

Token NamePrice24h7dMarket Value
Anchor Protocol (ANC)0,1656$-24,6%-89,6%57.298.794$
The Graph (GRT)0,1813$-10,7%-39,2%$
Alpha Venture DAO (ALPHA)0,1472$-9,2%-41,9%65.787.519$
DFI.money (YFII)1.182$-8,9%-0,1%46.980.402$
Maker (MKR)1.486$-8,8%25,0%1.351.526.424$

According to the shared data, when we look at the declining names of the decentralized finance (DeFi) sector within 24 hours, the total market value of the Anchor Protocol (ANC) protocol, which was calculated as $ 57,298,794 and decreased by 24.6 percent, is traded as $ 0.165592.

The Graph (GRT), which fell by 10.7 percent, was traded at $0.181295, while Alpha Venture DAO (ALPHA), which lost 9.2 percent, was at $0.147151.

Also in the data, DFI.money (YFII) protocol, which decreased by 8.9 percent, changed hands at $1,182.12, while Maker (MKR), which declined by 8.8 percent, was traded at $1,485.65.

What is decentralized finance (DeFi)?

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In our previous article, we shared a detailed article about Decentralized Finance (DeFi). However, it is useful to talk about exactly what Defi is.

DeFi, which is an abbreviation of the words decentralized and finance, is called a financial structure that does not need any center or authority. DeFi, which is basically built on blockchain networks, is ranked among the most important developments for the creation of next-generation digital currency infrastructures.

In DeFi structures, it is aimed not only to provide decentralized financial services, but also to provide trust to the participants. Because the absence of anyone in the administration means that abuses are prevented.

Smart contracts, consensus protocols and decentralized applications (Decentralized Application – DApp), which are based on the logic of “if this condition is met, will take place” and operate automatically, are among the important parts of decentralized finance structures.

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