ERC-20Ethereum

ERC-20 Token Market Capitalization Exceeds $ 33 Billion

ERC-20

The total market capitalization of ERC-20 tokens has exceeded $ 33 billion and now exceeds the same indicator of Ethereum, which is $ 27 billion.

 

According to data presented by the head of the news decentralized financing platform (DeFi) The Defiant Camilla Rousseau (Camila Russo), the total market capitalization of all tokens ERC-20, running on the Ethereum has exceeded $ 33 billion. These were taken from the browser blokcheyna Ethereum Etherscan .

Thus, the total market capitalization of all ERC-20 tokens exceeds the same indicator of Ethereum itself, which is $ 27 billion. At the same time, the data does not take into account the cost of unique tokens based on the ERC-721 standard, whose total capitalization is several million. 

Of all the applications on Ethereum, the most valuable are related to DeFi. The crypto assets supporting the work of this industry grow much faster than BTC or any other cryptocurrency on the market. Last month, against the backdrop of the DeFi boom , the LINK token is actively growing – yesterday its rate reached a historic high of $ 8.5, but then fell to $ 7.2.

According to a recent Dapp.com report, in the second quarter of this year, the number of active users of DApps Ethereum doubled compared to the first quarter. Such growth is also linked to the booming DeFi industry. In addition, the total volume of blocked assets in one of the largest DeFi Compound protocols exceeded $ 1 billion at the end of last month, and the number of borrowers reached 4,000.

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