DeFi wind had passed into a stagnant period from the second half of 2021. However, with 2022, it was entered in a positive atmosphere again.

At the start of the new year, DeFi projects brought bulls back to altcoins. Santiment data, on the other hand, highlighted the majority of the market holding steady with almost no bullish momentum. However, DeFi assets have seen a marked increase of up to 13%.

In the last quarter of 2021, a rise was expected after the September sales. However, apart from October, both November and December saw the crypto market drop to the levels seen in the July-August period. The last months passed in a decline just like the summer period. At the end of 2021, the crypto market lost another 30% compared to October. The year 2022 was entered with a low market volume.

Decentralized DeFi

DeFi projects are still among the most sought-after cryptoassets despite a string of hacks. The total DeFi market cap is currently over $160 billion. Many decentralized entities offer good opportunities to investors in their field.

YFI made the biggest jump in the last 24 hours with a 13% price increase. YFI has created six consecutive green candles on the daily chart, showing bullish volatility even at a time when the rest of the crypto market is consolidating.

Following YFI for daily earnings, UNI is up nearly 9% in the last 24 hours. Uniswap, one of the top DEX platforms, has recently migrated to the Polygon network. Many believe that the current price increase is due to the successful transition to MATIC. Another asset that started the day fast was AAVE. Cryptocurrency has climbed more than 10%.

DeFii

DeFi is an acronym for “Decentralized Finance”, a term for various financial applications in cryptocurrency or blockchain intended to disrupt financial intermediaries. This makes them available to anyone, rather than going through intermediaries like banks or brokerage firms. Unlike a bank or brokerage account, a government-issued ID, Social Security number, or proof of address is not required to use DeFi.