Blocked assets volume on Uniswap halves

Following the end of the reward program, decentralized trading platform Uniswap moved to fifth place in the DeFi protocol ranking by frozen assets volume. DeFi-project of decentralized lending MakerDAO became the leader again.

The volume of funds blocked on Uniswap fell by more than 50% in a few days. On November 19, this figure dropped to $1.33 billion, while a week ago it exceeded $3 billion.

The reason for current fall was the end of the reward program this week, as well as a large-scale correction in the cryptocurrency market, within which both Bitcoin and Ethereum have significantly lost in value.

According to the rating of analytical portal DeFi Pulse, the top three DeFi-protocols in terms of frozen funds are now led by the MakerDAO project with $2.3 billion, followed by WBTC and Compound with $2.2 and $1.5 billion, respectively. Uniswap moved to the fifth line.

After skyrocketing in the summer of 2020, DeFi project tokens experienced a hard correction in September. Thus, the price of Compound tokens fell by 61.5% over the month, with Aave and yearn.Finance decreasing by 59.3% and 67.9%, respectively. But in November, the DeFi sector began to recover. The latest wave of growth allowed DeFi tokens to catch up with Bitcoin in terms of median returns since the beginning of the year.

The number of Ethereum wallets storing DeFi protocol tokens exceeded 900,000. But if we compare this number of all Ethereum addresses, we see that wallets with DeFi tokens account for less than a percent. According to IntoTheBlock, there are now more than 124 million addresses on the Ethereum network. DeFi projects are the leaders among decentralized applications built on the Ethereum blockchain. Six of the ten most popular dapps are DeFi protocols, with a combined trading volume of over $21 billion in 30 days.

Via: 2Coinfox.info

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