Data shows that the total value locked in DeFi is overestimated by $2.83 billion

 

The total value in USD blocked in the decentralized finance protocols (DeFi) recently exceeded the USD 6 billion mark according to the chain data source, DeFi Pulse.

The figure now stands at USD 6.32 billion, up almost six times since reaching the USD 1 billion mark just three months ago. The exponential growth observed this year can largely be attributed to the advent of yield farming* and the launch of the Compound protocol.

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However, recent research by Encode Club founder Damir Bandalo found this figure to be somewhat inflated. Instead of USD 6.32 billion, Bandolo says that USD 3.5 billion is a better estimate for the actual value blocked on the 15 major DeFi protocols.

While the figures shown by various data sources for the DeFi ecosystem may be somewhat inflated, this is also the case in traditional finance, as one Twitter user noted.

Neutrino USD staking reached the Ethereum
The total blocked value in DeFi protocols can be somewhat difficult to calculate, as a dollar can create its value several times over in blocked value. For example, a user can lock Bitcoin Evolution in MakerDAO to create DAI, a decentralized USD-based stablecoin.

Then that user can block that same ETH in another protocol, and it doesn’t end there, since different protocols allow different lending, borrowing, and replication practices.

DeFi is much more than a market application

Only about 3.85% of Ether and 0.18% of Bitcoin (BTC) are blocked in DeFi, which means there’s still plenty of room for growth. Wrapped Bitcoin (wBTC) is the most popular way to tokenize Bitcoin in the Ethereum blockchain and approximately 50% of its market cap of $274 million is locked in Compound. RenBTC, a decentralized version of wBTC, is also beginning to gain relevance as a gateway to DeFi.

Gate.io Builds a DeFi ecosystem in its public GateChain Blockchain
Ether remains the most popular crypt currency within the DeFi ecosystem, representing 50% of the total blocked value, while BTC represents only 10%. Stablecoins represent 33% of the total blocked value and the rest is made up of other ERC-20 tokens such as the Basic Attention Token (BAT), Augur (REP) and others.

Is there room to grow?
Regardless of the total blocked USD value in the DeFi ecosystem, there is clearly plenty of room for growth. The blocked value figure is likely to continue to increase as yield farming and other forms of lending gain attention.

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While many believe that DeFi is the future of finance, the emerging sector still has significant security issues to deal with and must do so as it faces what appears to be an exciting market that reminds us of the ICO boom of 2018. This leads to poorly planned and rushed projects like Yam Finance, which was launched without a proper audit of its code.

BitMEX beats Binance in open interest, according to a new BTC futures ranking

The derivatives giant BitMEX and the crypto currency exchange Binance are the largest in the Bitcoin industry (BTC), when ranked by open interest (OI).

According to the updated Bybit exchange ranking, as of May 19, these two companies now top the list when it comes to total OI on their derivatives contracts.

Record open interest of CME’s BTC shows that institutional investors are bullish on the price of Bitcoin

BitMEX’s open interest is almost double that of Binance
Third place is Bybit, followed by Huobi and FTX. The OI for BitMEX exceeded USD 587 million, at the close of this edition, with Binance slightly lower with USD 314 million.

OI took a significant hit on BitMEX, particularly in March – falling from over $1 billion to current levels of around half that – when the price of Bitcoin plummeted to a low of $3.6 billion, before beginning a recovery shortly thereafter.

CoinMarketCap initially dismissed the figure that now puts set up a task force, split the blockchain, doesn’t yet see, the speed dreams of security tokens, exit its wallets, expand access to insurance, wall of sovereign opposition, swarmed uk cellphones, so-called “free zone”, akomba labs test at No.1
The figures for the other three in the top five exchanges were $217 million for Bybit, while Huobi and FTX were on equal footing with $114 million.

Top 10 Bitcoin exchanges by futures open interest

The open interest refers to the total value of derivative contracts outstanding on a platform, in this case related to Bitcoin futures.

High OI, when combined with high volume, can indicate genuine trader interest in both sides of the BTC price performance. However, OI can also occur without volume support, indicating more speculative market activity.

The Huobi derivatives platform was renamed Huobi Futures to attract more investors

The only way is for the BTC futures ecosystem
As reported by Cointelegraph, the OI for non-exchange derivatives providers has increased significantly in recent weeks. CME Group contracts reached a record $399 million earlier this month, while option volumes have grown by 1,000% this month.

Meanwhile, this week, the CoinMarketCap aggregator began classifying exchanges by web traffic as a default setting, reversing a decision from last year that criticized the validity of the metric.

Under that scenario, Binance is currently number one, although CoinMarketCap has warned that the new metric is still being worked on.

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https://www.youtube.com/watch?v=lR0jkAl0ju8

BTCUSD Tages-Chart

Kurzfristig; Unterstützung: 9500 USD & 9300 USD ||| Widerstand: 9785 USD & 9980 USD USD

BTCUSD neckt um eine wichtige Zone (Abwärtstrend Linie 2 und jüngster unterbrochener Aufwärtstrend)

Wenn es diesen Bereich durchbrechen könnte, wäre das ein zinsbullischer Fall für BTCUSD auf mittlere Sicht und würde eine riesige Impulsbullish-Bewegung für BTCUSD erwarten. Umgekehrt wäre es verheerend, wenn man nicht über diese Zone hinausgeht, für den Aufwärtstrend, der bereits seit April 2019 besteht.

Auf kurzem Zeitrahmen bildet sich ein steigendes Keilmuster (grüne Linie), das ein anhaltender rückläufiger Trend sein könnte, wenn die Preisaktion nicht über die wichtige Zone hinausgehen kann. Ungültig gemacht, wenn die Preisaktion bereits über 9980 liegt.

Aufwärtstrend

Indikator 4 Stunden von oben nach unten:

ADP: Beginnend, eine Akkumulationszone (über 50) zu betreten, die einen Käufer anzeigt, der an btcusd interessiert ist…. je länger er in der Akkumulationszone bleibt, desto besser für einen zinsbullischen Trend.

CCI: Der Indikator selbst zeigt einen hohen durchschnittlichen Preis, da er eine Stärke für das aktuelle Momentum zeigt, während er auch zur Kenntnis genommen wurde, dass es sich um einen zweiten Versuch handelt, bei dem die Preisaktion nicht über die wichtige Zone hinausgeht, während der Indikator beginnt, eine bärische Divergenzgefahr zu zeigen.

DMI: -DI wird +DI kurz gesagt den nächsten Kerzenständer kreuzen, da es ein gutes Zeichen für eine Trendwende ist. Allerdings ist die Momentumskraft schwächer.

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