Ethereum-based decentralized finance (DeFi) has taken the cryptocurrency world by storm in recent months and investor interest continues to grow. DeFi market has already reached $4 bln. Since DeFi tokens recorded a significant increase in price indicators, this was one of the reasons for listing them on various crypto exchanges.
The three main decentralized peer-to-peer DeFi protocols dominated: Maker, Aave and Compound. Project Maker is the largest DeFi protocol, with $875 mln in smart contracts. Aave ranks second with $639 mln, then Compound goes with $616 mln. Over the past 72 hours, ETH has risen by about 22%, surpassing the $300. However, CoinMetrics data shows that transaction fees were 0.5658 as of July 21, the highest level in two years.
Image courtesy of the Coin Shark