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A new DEFI space analytics site - DEFIMarketcap
There is a lot of talk about DEFI in recent times and it’s time we take steps to understand and learn about Decentralised Finance,ie, DEFI projects. Currently, the DEFI space is burgeoning, there is so much growth in the space that there is a dedicated data analytics site built for it. That’s right, like there is the popular analytics site coinmarket.com for crypto projects, there is one for DEFI projects as well and it is https://defimarketcap.io/ - DEFIMarketcap .
This is a good place to start off, knowing about the various DeFI projects out there and the value of these DEFI project tokens, along with details such as circulating supply.
(Note - For those who are brand new to DEFI and want a basic understanding of Decentralised Finance Space please read my article -
Getting into the next stage of the Blockchain Cryptoverse - Understanding DEFI)
Tremendous Growth of DEFI space and DEFI token values
The https://defimarketcap.io site was created by creators behind DEFI interface Zerion .
A absolutely mind blowing growth is reflected of the DEFI space with the data provided by this site.
When DEFIMarketcap site was launched in April the aggregate market capitalisation of all the listed tokens crossed the threshold of 1 billion dollars, however, now the total market capitalisation has increased further to more than 2 billion dollars, just months after the site came online.
The value of these DEFI tokens has nearly doubled too.
Defi Pulse - Another site to track various DEFI projects
There is another site that’s used for tracking DEFI project growth and this site is Defipulse - https://defipulse.com/ . Defipulse tracks the total value of tokens that are locked into various Defi projects.For instance, it calculates the value of the Dai and ETH tokens that are locked into various DEFI projects.
Defimarketcap in the other hand tracks the value of tokens connected to various DEFI projects. However, Defipulse is also a well known resource for getting information on the DEFI space.
So, begin learning about DEFI space now!!
Here, I end my Defi article, as I have very limited knowledge about DEFI projects, so cannot go indepth. However, if you have money, consider buying some promising DEFI tokens, the logic behind this is, it’s possible that the value of these coins would rise up like how almost every crypto coin did in 2017 bull run.
Note that, DEFI space is new, just like how crypto was during 2017, and hype on DEFI is coming up. The value of these tokens would automatically rise, when these tokens are used more when these Defi protocals are used more.
Datadash explains this better, on why it’s a good idea to atleast keep track on DeFI space, check his explanation in the video here - https://youtu.be/ANKIv49QcZs
So, go and learn about Compound, Maker Dao, Kyber Network, Ox, Synthetix Network ,Loopring, Uniswap Defi projects from today. It will benefit you for sure. It’s time for us to think beyond large cap crypto tokens, and check out DEFI project tokens, because Blockchain DEFI use cases are growing and we need to keep pace with the growth and other various developments in this space!!
Reference articles -
https://decrypt.co/25480/defi-market-cap-crossed-1-billion-this-new-tool-helps-track-it
https://decrypt.co/31656/defi-market-cap-doubles-2-billion-under-two-months
