The locked-up volume of DeFi exceeded 4 billion, and the daily trading volume of Uniswap exceeded 100 million. The engine of the bull market?

Editor's Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Chatting with Xiaozha (ID: xiaonazha88)

, reprinted by Odaily with authorization.

Yesterday, the rise of BTC broke through the $10,000 mark, and the market cheered.

In the circle of friends, you can see the K-line chart of Bitcoin breaking 10,000 everywhere. After all, the market has been suppressed for too long, and a bull market is urgently needed to rescue it.

So there are also voices saying that the bull market has started. This is not to discuss the start of the bull market, but to talk about the things behind it, that is, the rapid development of DeFi, which may be the engine of this bull market.

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1. The lock-up volume of DeFi exceeded 4 billion US dollars

In June, the total market value of DeFi exceeded 2 billion US dollars, and the market celebrated it. Now, the lock-up volume of DeFi has exceeded 4 billion US dollars, reaching 4.26 billion US dollars, as shown in the figure below. Both Ethereum and Bitcoin rallied to celebrate.

Here is a breakdown of the assets locked in DeFi. According to debank data, the anchored BTC is also climbing step by step, reaching 18,709, as shown in the figure below.

According to data from dapptotal, the total amount of ETH locked in DeFi is 4,145,045, accounting for 3.7% of the total supply.

Looking back on July 9, the amount of BTC and ETH locked in the DeFi ecosystem are:

The amount of ETH locked assets is: 3,749,645 pieces, or a value of 920 million US dollars;

The amount of assets locked in BTC is: 14,509, worth 136 million US dollars.

On July 27, the amount of BTC and ETH locked in the DeFi ecosystem were:

The amount of assets locked in BTC is: 18,709, an increase of 28.9% compared to July 9, and the value is 187 million US dollars.

The total amount of locked positions in DeFi was 2.36 billion US dollars on July 9, and BTC+ETH locked positions accounted for 44.7%; The proportion of ETH locked positions dropped to 34.4%.

Here we can see two points: 1. The amount of locked positions in DeFi has grown rapidly, increasing by 80% in less than 20 days, but this growth rate has not declined; 2. The amount of ETH and BTC locked into DeFi is also growing, but There is still a lot of room for growth. If this space is fully opened, you can imagine it.

Maker's lock-up volume will soon exceed $10. This will also be a milestone event.

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2. The trading volume of DEX is close to that of CEX

The explosive growth of lock-up volume was mentioned above, and here is the rapid growth of DEX trading volume. The figure below shows the daily trading volume of DEX.

The daily trading volume of DEX on ETH has reached 420 million US dollars. It is worth noting that this data is not fraudulent, and it is all public data on the chain.

In terms of breakdown, the daily trading volume of the two DEXs, Curve and Uniswap, both exceeded $100 million.

This growth rate, CEX will tremble after seeing it. Think about the fighting among CEXs, and as a result, Uniswap ruthlessly plundered the already sluggish spot market atmosphere.

The trading volume of DEX can soon catch up with the daily trading volume of the top exchanges, and the trading volume of Uniswap and CEX without data brushing components is getting less and less.

The activeness of DEX has also brought about a steady increase in the handling fee on the ETH chain. The daily ETH handling fee is as shown in the figure below.

The more active the market transactions, the more active the market and the more active the value discovery, and this active value discovery is carried out in Uniswap, what does it mean?

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3. DEX value discovery, CEX to take over

In 2017, when Binance launched the new currency, it was a big hit, and this matter has continued. However, up to now, when DeFi tokens are launched, this explosive effect has become weaker and weaker, and even fell again.

Interested friends can go to the K-line chart when Binance announced the listing of COMP and SNX. Although there are ups and downs, there are basically no major fluctuations. Why? Because it has exploded before that.

For example, COMP was first launched on Uniswap, worth more than a dozen dollars. When Binance was about to list COMP, the price was already around $200.