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Altcoin Roundup: DeFi token prices are down, but utility is on the rise

Published 03/11/2022, 05:50 PM
Updated 03/11/2022, 07:20 PM

The decentralized finance (DeFi) sector has been sitting in the backseat since whipping up a frenzy in the summer of 2020 through the first quarter of 2021. Currently, investors are debating whether the crypto sector is in a bull or bear market, meaning, it’s a good time to check in on the state of DeFi and identify which protocols might be setting new trends.

Here’s a look at the top-ranking DeFi protocols and a review of the strategies used by users of these protocols.

Top 5 protocols by total value locked. Source: Defi Llama
AAVE/USDT vs. COMP/USDT 1-day chart. Source: TradingView
Aave vs. Compound stablecoin yields. Source: DeFi Prime
Total value locked on Lido. Source: DeFi Llama.

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