After XRP, Now DeFi Sector Hits Record All Time Highs - Analysis.

After XRP, Now DeFi Sector Hits Record All Time Highs - Analysis.

2021-01-31 | Mike Hallen

After XRP, Now DeFi Sector Hits Record All Time Highs - Analysis.

Just earlier on 30th Jan., Uniswap [UNI] & Compound [COMP] both recorded new all-time highs as the entire DeFi sector continued to heat up. UNI soared to a new all-time high at $19.93 USD while COMP price traded at around $340 USD. After XRP, Now DeFi Sector Hits Record All Time Highs - Analysis. Within the past 30 days, the whole decentralized finance sector has been in a strong uptrend, and data from DeFi Pulse shows the entire value locked has soared from $16.43 Bln on 2nd  Jan. to a new all-time high at $27.67 Bln on 30th Jan. After XRP, Now DeFi Sector Hits Record All Time Highs - Analysis.   The surge in COMP price follows the recent record of a new governance module and upgrade to the comp. vote interface that now permits community members to save lots of on gas fees by voting by signature rather than on-chain transactions. DeFi becomes more renowned after the Robinhood debacle This week’s controversy surrounding investment brokerages halting the markets for GameStop as well as AMC stock has presented DeFi and crypto exchanges as a possible alternative to the centralized traditional finance sector. Within the official tweet, Compound founder, Robert Leshner revealed that the recent developments explained that “the long-term answer” to the time it takes for trades to settle with the DTCC [Depository Trust & Clearing Corporation], “is for markets to run on blockchains.” Leshner added:
“Instant settlement would eliminate most of the complexity, cost, and capital requirements which plague T+2 settlement. Robinhood wouldn't have credit obligations, or the necessity to show against their own users.”
After XRP, Now DeFi Sector Hits Record All Time Highs - Analysis. Uniswap’s grants program was unveiled on 20th Jan as how to assist expand the exchange’s ecosystem. Developers who are curious about participating now have an opportunity to submit a proposal and receive funding for the event of a project that adds value to the general platform. Consistent with Uniswap’s Twitter feed, there have been “40 grant submissions to @uniswapgrants within the 14 days since applications opened .” Since the launch of the grants program, the worth of UNI has increased 160% from $7.10 on Jan. 21 to its current price of $18.51 USD. Uniswaps rising TVL, daily transaction volume, and investor’s excitement over the upcoming v3 launch are additional factors backing UNI’s surge to new all-time highs.

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