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DeFi Space Rebounds Notably with an Average Return of 20% in 24 hours!

Highlights

    DeFi tokens recover drastically amid the narrow trend of the major crypto assets.

    Popular defi tokens gain more than 15% in just 24 hours, with an average returns close to 20% in same period

    DEX had a record breaking volume in the past month, with Uniswap and Sushiswap top the leaderboard

More than $4 billion Rises in TVL Recorded in Past 24 hours!

The DeFi space that gained mainstream attention with the monster rally of the popular DeFi token YFI, had concealed behind the bitcoin bull rally. Yet, recently, the DeFi space appears to have gained the lost momentum to speed up the bullish trend.

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Major DeFi tokens rebounded well with an average return of nearly 20% in just 24 hours of trading. Pancake swap topped the leaderboard with a massive 51% gain, indicating a significant bullish trend awaiting for the DeFi space.

defi token

Therefore, investing in these DeFi tokens a day before would have gained nearly 15% to 51% from different assets. Moreover, the total value locked on the DeFi platform rose remarkably by more than $4 billion in just a day, according to data from defipulse.com indicating the growing defi dominance.

Uniswap the Leader of DEX

The increasing popularity of decentralized exchanges is growing rapidly over the time in terms of adoption, trading volume, etc. With record breaking figures, the monthly volume of DEX has smashed the milestone of $60 billion as per data on Dune Analytics.

Dune analytics

Uniswap led the DEX space with half of the trading volume of more than $31 billion, Sushiswap stands next with a volume of $14 billion. With the massive spike, the current Defi volume share also rose to 10.5% and the market dominance of 4.51%.

Collectively, the DeFi space and the DEX have gained immense attention from mainstream trading and hence may regain the lost dominance in the coming days.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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