Binance’s DeFi Index broke the highest record of all time, while the total locked figure reached $ 25 billion. All these developments show that the DeFi field continues to grow.
The decentralized financial sector continues to grow at lockdown at an all-time high of over $ 24 billion. Accordingly, the Binance DeFi Composite Index, which measures the performance of numerous DeFi-focused cryptocurrencies, also pointed to a new ATH today.
Binance DeFi index at new heights
Launched in August 2020, the DeFi Composite Index tracks and measures the performance of a “basket” of DeFi assets, as the company describes it as a “standardized pathway”.
It is worth noting that the Binance DeFi Composite Index tracks DeFi tokens listed on the leading exchange and are expressed in Tether (USDT).
Some of the cryptocurrencies with the largest share in the index are LINK (14%), YFI (7.5%), MKR (7%), Uni (6.5%), AAVE (6%), SNX (%) and COMP. . (4.8%). Naturally, the index has also exploded as the prices of most DeFi tokens have exploded recently.
The index jumped to an all-time high of $ 1,261.5 earlier today. While it has since pulled back slightly to $ 1,230, it still marks a 70% increase from last week’s low during this Monday crash.
A new record: over $ 24 billion locked up
Total value locked in various DeFi projects is another indicator of industry growth. As of writing these lines, a new record of $ 24.57 billion has been set.
This amount represents the dollar equivalent of all cryptocurrency assets locked in smart contracts on decentralized lending and borrowing platforms.