The DeFi Market Again Sought After by Funds, Locked More Than 13.6 Billion US Dollars

After the DeFi (decentralized finance) market craze has cooled down for a while, it has suddenly recovered in the past week. The prices of many DeFi tokens have generally recorded the least double-digit growth. Some popular tokens such as Yearn Finance (YFI) and Aave (AAVE) have more than doubled. The funds currently locked in the DeFi market once again reached a record high of $13.6 billion, an increase of $2.23 billion from a month ago.

The DeFi market, which began to explode in the middle of this year, allows investors to deposit cryptocurrencies on different DeFi platforms, and earn interest on these cryptocurrencies after they are loaned out, which makes a lot of funds invested in the DeFi market. Tokens launched by related platforms are more favored by investors. According to data from CoinMarketCap, YFI has risen 1.1 times in the past 7 days. Others, such as Uniswap (UNI), Chainlink (LINK) and Compound (COMP), increased by 24% to 69%.

In the DeFi token market today, there was a profit-taking situation. As of 6:30 p.m., YFI fell 12.5% ​​to $16,225.62. COMP reported US$107.8, down 3.9%, while UNI and LINK fell about 2%. Ki Yong Ju, CEO of CryptoQuant, a cryptocurrency analysis company, pointed out that people are fascinated by high-yield and low-risk investment strategies. For conservative investors, other low-risk strategies such as arbitrage between exchanges and betting Compared with DeFi projects, the latter is a better strategy.

As for Bitcoin, it rebounded again today, once rising to US$16,116.73, breaking the US$16,000 mark. However, it fell slightly afterwards, rising 2.5% to US$15,839.57. Ether continued to stand above $450, rising less than 1% to $461.97.