News29 September 2021

DeFi Market Size Soared By 335% Year-Over-Year To Reach $85B

DeFi Market Size Soared By 335% Year-Over-Year To Reach $85B

Summary

  • The market showed impressive growth in 2021
  • The DeFi market size soared by 335% year-over-year
  • The market hit a new record valuation of $98.3bn in September
  • Avalanche, Terra and Uniswap among leading DeFi protocols

2021 has been a busy year for the DeFi market. The market showed impressive growth between January and May when it plunged by 35% in few weeks before bouncing back to new record highs.

According to recent market data, the DeFi market size soared by 335% year-over-year to reach approx. $85bn this week, despite suffering a 13% drop in September.

In September of 2020, the DeFi market size by the amount of cryptocurrency locked stood at $19.5bn. By the end of 2020, this figure jumped to over $24.5bn.

The DeFi market exploded in 2021 to reach more than $50bn value in February. The total value locked in the DeFi surged to $68bn over the following two months, an impressive 176% increase from the numbers in January.

By September 8, the market had hit a new record valuation of $98.3bn and slipped to around $85bn in the last three weeks. Even with the slip, the market ends September with $65.5bn more than ii had in September last year.

Among leading DeFi platforms, Avalanche has become the Leading DeFi Token as the market Cap Soared by 6,500% YTD. Other leading DeFi protocols include Terra that experienced a market cap surge of 4,700% YTD to $14.5bn, and Uniswap, with a market cap surge of 965% in this period.

Kibet Elikana
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