UniSwap sets a new record for Decentralized Finance (DeFi) and the compound fork EasyFi loses 80 million US dollars due to a hack. That and more in the DeFi monitor.Decentralized finance has grown tremendously in the past few months, and the overall size of the market topped the historic $ 100 billion mark just a few weeks ago. However, the young sector has suffered a major setback this week. The value of assets managed by DeFi protocols on Ethereum (Total Value Locked) has fallen from a record $ 62.42 billion to $ 54.4 billion at press time.The decline of 12.85 percent in total can mainly be attributed to the decline in Ethereum and Bitcoin prices. That\u2019s because these two cryptocurrencies are responsible for most of the capital tied up in DeFi protocols. Still, it\u2019s worth noting that the 12.85 percent drop on a weekly basis was relatively small compared to the drop in Ethereum ( -9.79% ) and Bitcoin ( -21.19% ). This is probably due to the fact that DeFi protocols now also manage an enormous amount of stablecoins. For example, four of the top five contain liquidity pools alone on UniSwap Stablecoins. As a result, the volatility of the crypto markets has less and less influence on the total value locked indicator in decentralized finance.The decentralized exchange (DEX) UniSwap (UNI) has set a new record. Hayden Adams, the creator of the largest Ethereum DEX, announced on April 20 that UNI\u2019s weekly trading volume exceeded $ 10 billion for the first time.The DeFi project succeeded in growing steadily despite the extremely high Ethereum transaction costs. At press time, a single swap on the DEX costs $ 38.51, according to etherscan.io.If the growth of the decentralized trading platform continues in the future, Hayden Adams believes it is possible that the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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