DeFi is experiencing a spike in inflows, showing signs that the space is ready to pick up thanks to new players.
Every crisis presents an opportunity, however, and in this instance it is the decentralized stablecoin protocol Frax that has benefited from the stablecoin shakeup. The protocol's TVL has increased 35.81% over the past 30-days.DEX activity remains elevated
Aside from the total value locked metric, which has its own strengths and weaknesses, activity across DeFi applications continues to increase year over year with the volume transacted on decentralized exchanges over the past three months ranking among the highest recorded historical volumes.Uniswap remains the dominant DEX with 77.9% of the volume transacted, followed by 7.8% for Curve and 5.6% for SushiSwap .
The overall cryptocurrency market cap now stands at $1.996 trillion and Bitcoin’s dominance rate is 41.9%. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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