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Defi economic recovery: The total locked-in value rose 28%, raking in nearly $ 9 billion


Total locked-in value (TVL) in the decentralized financial (defi) economy regained most of the value lost in last week's Sushiswap defeat. At the time, TVL defi had fallen to $ 6.8 billion from its peak of $ 9.6 billion on September 8, suffering a loss of close to -29%. Since then, however, the rise to the north has been parabolic, as TVL defi has risen 28% so far, with the locked-in value rising to $ 8.75 billion Thursday morning (ET).

Last week, Sushiswap's anonymous creator sparked a ruckus in the decentralized financial (defi) community after pulling out some tokens for future development of the project.

At the time, the total locked-in value (TVL) in defi was slowly inching towards $ 10 billion, when it crossed $ 9.6 billion on September 8th. decent value after the Sushiswap incident and the price of ethereum (ETH) dropped 30%.


Defipulse.com statistics show the total locked-out value (TVL) hovering around $ 8.75 billion on Thursday, September 17, 2020.
Today, according to defipulse statistics, the current TVL on Thursday 17th September is $ 8.75 billion with defi loan platform Aave accounting for 15.3% of TVL dominance. Followed by defi Maker, Curve Finance, Uniswap, and Sushiswap platforms.

On Thursday morning (ET), the crypto community discussed Uniswap's UNI token, which saw 60% of UNI's native supply be allocated to Uniswap community members. Since its launch, Coinbase Pro has announced UNI support on the exchange, and cryptocurrency platform Binance has also listed tokens a few hours after its release.


The top six projects in the decentralized (defi) financial space include Aave, Maker, Curve.fi, Uniswap, Sushiswap and Balancer.
The Uniswap team says 21.51% will be earmarked for future employees and developers with a four-year testing period. 17.80% of the UNI supply will also be distributed to investors with a 4 year time frame.

The UNI's launch announcement notes that the token will be leveraged to the governance treasury, and that administrators will have access to the allocation on October 18. The Uniswap governance token airdrop has contributed part that helps ethereum (ETH) miners reap a lot of money from transaction fees.

Data analysis firm Glassnode tweeted: "Following Uniswap Protocol's announcement of UNI tokens today, Ethereum has seen a huge increase in mining fees." “Nearly 1 million US dollars in fees were spent in an hour. This is a new record high (excluding extraordinary tx fees earlier this year). "

Last Saturday, the Yearn Finance (YFI) token hit an all-time high of $ 43,678 after Coinbase Pro announced the listing of the defi crypto asset.


News.Bitcoin.com's defi report at the end of August found that the number of unique addresses over time increased 17.78% from 388,011 to 457,012 on September 13.
The token has been very popular in the yield farming community and is well known for the price of YFI per token surpassing bitcoin (BTC) in value. Although YFI has lost -27.34% since the announcement of its listing on Coinbase and the token is currently swapped for $ 31,736 per coin.


Decentralized exchange platforms (dex) have seen $ 5.2 billion in swaps globally over the past seven days.
Since news.Bitcoin.com's recent research on the defi economy on August 29, the total number of defi users over time has increased 17.78% from 388,011 to 457,012 on September 13. Defi-based decentralized exchange (dex) operations have hit $ 5.2 billion globally in the past seven days.

Dune Analytics data shows that the dex volume over the past 24 hours was around $ 645 million. Uniswap remains the leading dex in traded volume, accounting for over 60% of the week's trading volume.

With this week's TVL defi rebound closing at the highs it saw last week, that suggests that the defi economy won't recede anytime soon.

Meanwhile, ethereum (ETH) has regained most of the coin's losses when trading crypto assets for $ 383 per ether at the time of publication. Since last week's report regarding 68 new whales joining the ETH network, the massive concentration of ETH holders has added another 1% to the total.

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