{"id":275792,"date":"2020-10-23T06:34:44","date_gmt":"2020-10-23T10:34:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=275792"},"modified":"2020-10-23T06:34:44","modified_gmt":"2020-10-23T10:34:44","slug":"defi-protocols-reach-ath-of-over-12-billion-tvl-amid-new-bull-run","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/defi-protocols-reach-ath-of-over-12-billion-tvl-amid-new-bull-run","title":{"rendered":"DeFi Protocols Reach ATH Of Over $12 Billion TVL Amid New Bull Run"},"content":{"rendered":"

Decentralized Finance (DeFi) protocols have recently seen a cooling-off period of six weeks or so. Now, however, it seems that the DeFi bulls have regained their strength, pushing the total value locked (TVL) of the space to all-new record highs.<\/p>\n

$12.5 Billion In TVL For DeFi Space<\/strong><\/h2>\n

This new all-time-high (ATH) is set at $12.5 billion worth of crypto locked into various DeFi protocols<\/a>, according to DeFi Pulse, a popular DeFi data aggregator.<\/p>\n

Of particular note, however, is that around $1 billion managed to appear within the DeFi space in a matter of 48 hours. It should be noted that the precise figures are hard to produce, as various analytics platforms, including CoinMarketCap and Coingecko, show different numbers for it.<\/p>\n

A Bit Of Disagreement Over Exact Figures<\/strong><\/h2>\n

Coingecko\u2019s tracker<\/a>, for instance, reports the TVL for the DeFi space to be about $11.92 billion. This dramatic increase in TVL is primarily thanks to Bitcoin reaching a new high for 2020, recording a price of $13,200 on the 21st of October. This, in turn, was brought thanks to Paypal making it clear that it\u2019s planning on entering the crypto space<\/a> at large.<\/p>\n

\"\"<\/a><\/p>\n

The total market cap for DeFi, as reported by Coingecko, has reached a staggering $14.3 billion in value, seeing a $2 billion increase within the past 48 hours, as well. The market cap includes the cost for all DeFi tokens, as well as Chainlink<\/a>, a DeFi-adjacent token.<\/p>\n

Election Catalyst For Growth, Says Spencer Noon<\/strong><\/h2>\n

Spencer Noon, the head of DTC Capital, gave an argument that the DeFi space may be entering its second round of bull market. He highlighted that this month saw most tokens halve itself in value, but even so, the DeFi space, in particular, has been reaching ATH in the meantime.<\/p>\n

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Despite a month that saw most tokens fall 50% or more, #DeFi<\/a> is *still* at ATHs with its most important indicators: <\/p>\n

– TVL: $12.41B
– ERC20 Stablecoins: $14B<\/p>\n

Don't listen to the degens who burned out. Phase 2 of this #DeFi<\/a> bull market will make this summer look like nothing.<\/p>\n

— Spencer Noon \ud83d\udd5b (@spencernoon) October 22, 2020<\/a><\/p><\/blockquote>\n