DeFi Sector Demonstrates Excellence Despite Crypto Market Hit By Rampage - Kakiforex.com - Financial Market Media No. 1 in the World DeFi Sector Demonstrates Excellence Despite Crypto Market Hit By Rampage DeFi Sector Demonstrates Excellence Despite Crypto Market Hit By Rampage

May 27, 2021

DeFi Sector Demonstrates Excellence Despite Crypto Market Hit By Rampage

 The decline of the crypto market last week did not seem to shake the DeFi sector.


Reported decentralized exchange (DEX) recorded a trading volume of $ 11.7 billion on May 19th.


Uniswap (UNI) topped the record with a trading volume of $ 5.7 billion followed by SushiSwap (SUSHI) with a total of $ 2.8 billion within 24 hours of the trading session.


DeFi’s major tokens such as Maker (MKR), Aave (AAVE), Compound (COMP), including UNI and SUSHI did not display a drastic decline, at least not exceeding 15% of the ETH price decline.



On the other hand, more new users are joining the DeFi ecosystem and it is said that the number of unique 30 -day investors in some major DEXs has reached a record 1 million for the first time.


This puts Uniswap topping the chart with 815,000 unique users for the period April 24 to May 23, followed by 1inch (1INCH) with a user record of 78,200 and SUSHI with 10,900 users.


Based on observations, the healthy stablecoin market and its key capabilities that hold on to dollar values ​​such as USD Coin (USDC), Tether (USDT), and Dai (DAI) contributed to the strengthening of the DeFi sector.


At the time of writing, within 24 hours each recorded a value:


ETH: $ 2,697 (down nearly 4%)

UNI: $ 27.24 (up almost 3%)

SUSHI: $ 12.03 (8.3%down)

MKR: $ 3,691.77 (down over 5%)

AAVE: $ 385.46 (up over 1%)

COMP: $ 429.64 (up over 1%)

1INCH: $ 3.09 (up 1.2%)