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BCH $549.39 (0.49%)
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DeFi Market Hits $20B TVL for the First Time

DeFi Market Hits $20B TVL for the First Time
  • The DeFi market has hit a total value locked (TVL) of $20 billion, a new all-time high.
  • Leading the DeFi market is Maker with a $4 billion TVL.
  • DeFi token prices may increase alongside mainstream cryptocurrencies like Bitcoin and Ethereum.

The decentralized finance (DeFi) market has hit the $20 billion total value locked (TVL), according to DeFi Pulse. This is the first time that the DeFi market has reached this figure.

Leading the pack of DeFi tokens is Maker with a $4B TVL. It also has a market dominance of 19.98%. Second, on the list is Aave with a TVL of $2.69B.

The day before, the combined TVL of DeFi platforms reached only $15 billion.

Many people consider 2020 to be the year of DeFi. However, this new record shows that the DeFi space has yet to stop its rally this 2021. With the reaching of the new DeFi TVL, many people are now anticipating more increase in DeFi token prices alongside more mainstream cryptocurrencies like Bitcoin and Ethereum.

Meanwhile, BTC also hit a new all-time high (ATH) record of $35,000. It now looks to reach the Fibonacci level at $36.2K.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.