The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto-Based Effort to Decentralize Global Finance Hits $1 Billion Market Cap

by Daily Hodl Staff
April 15, 2020
in Blockchain

Crypto assets dedicated to decentralized finance (DeFi) have collectively hit $1 billion in market capitalization.

DeFi is designed to give people an alternative to traditional banking services such as borrowing and lending by using platforms that are decentralized, lack control by middlemen and utilize smart contracts to automate transactions.

At time of writing, the total market cap for all listed tokens on DeFiMarketCap, an analytics website that shows the market cap of 230 tokens underpinning DeFi, is $1,068,714,105.

[the_ad id="93550"]

Ethereum-based protocol Maker dominates the pack with a market cap of $295,878,527.

It’s followed by 0x with a market cap of $171,252,000, and Synthetix Network Token with a market cap of $120,956,075.

Top 10 DeFi Tokens by Market Cap

1. Maker $295,878,527
2. 0x $171,252,000
3. Synthetix Network Token $120,956,075
4. Kyber Network Crystal $99,496,766
5. Dai $67,088,504
6. Compound Ether $47,113,112
7. Compound USD Coin $43,449,838
8. EthLend Token $28,802,718
9. Compound Dai $24,563,280
10. Aave Interest bearing LINK $17,061,808

TD Ameritrade recently joined the Chicago DeFi Alliance (CDA), a new group aiming to support companies that are working to build decentralized finance products.

But the space also has its share of critics. Litecoin creator Charlie Lee says he believes DeFi platforms are ultimately centralized, citing an attack on the Ethereum-based bZx protocol. To reverse the damage from the attack, the bZx team decided to use an admin key to pause the network.

“This is why I don’t believe in DeFi. It’s the worst of both worlds. Most DeFi can be shut down by a centralized party, so it’s just decentralization theatre. And yet no one can undo a hack or exploit unless we add more centralization. So how is this better than what we have now?”

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • GSR Leads $100M Private Placement into Nasdaq-listed MEI Pharma to Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee
    July 18, 2025
  • KuCoin Launches xStocks, Delivering a One-Stop Access Point to Top Global Tokenized Equities
    July 18, 2025
  • PlayW3 Unleashes ‘Be the Boss,’ a New On-Chain Business Model That Turns Creators Into Owners – Over $320,000 Already Paid Out
    July 17, 2025
  • Streamex (BSGM) CEO Henry McPhie Highlights BSGM Merger and RWA Tokenization Strategy in Live TV Interview
    July 17, 2025
  • Numerai Announces $1 Million Strategic Buyback of NMR
    July 17, 2025
  • Bit Origin Secures $500 Million Equity and Debt Facilities To Launch Dogecoin Treasury
    July 17, 2025
  • Supra Unveils Real-Time Macro-Economic Data Feeds To Enhance On-Chain Trading
    July 17, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$119,461.01
$119,461.01
1.21%
Ethereum
$3,613.68
$3,613.68
5.22%
BNB
$745.13
$745.13
3.85%
Solana
$179.38
$179.38
1.13%
XRP
$3.51
$3.51
7.64%

Spotlight

  • Bitcoin Primed for the Next Major Parabolic Advance, Says Crypto Analyst Kevin Svenson – Here Are His Targets
    July 11, 2025
  • Trader Outlines Catalysts That Could Trigger 350% Bitcoin Rally, Updates Outlook on Ethereum and Avalanche
    July 11, 2025
  • ‘This Could Very Well Be the Ultimate Bull Trap’ – Trader Issues Urgent Crypto Warning As Bitcoin Blasts Past $118,000
    July 11, 2025
  • Banks With One ‘Deficient’ Rating Could Still Be Considered ‘Well Managed’ Under New Federal Reserve Proposal
    July 11, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl