25 Jan 2021

Steamy hot winter in DeFi

Defi has been on fire lately. The total value locked in DeFi has increased by 75% so far in January, the monthly DEX volume has already shattered its former ATH, and the token valuations are surging.
Source: Tradingview, FTX
The total value locked in DeFi currently sits at $26.3b and keeps increasing rapidly. This number is up 75% from January 1st when the total value locked was $15b.The rise of value locked into DeFi has been accompanied by surging valuations of the DeFi projects, with the combined DeFi market cap being $45b, far above the September 1st peak of $21.5b.The decentralized exchanges have already sat a monthly ATH in terms of trading volume (see slide 20) as traders seek to gain exposure to the latest trends within DeFi.The recent bull market in DeFi is well reflected in FTX’s DeFi index, which has risen by 120% so far in January.Some of the top performers in the last 30 days in DeFi are Aave (234%), and the major dex tokens Uniswap (244%) and Sushiswap (231%).
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