The Decentralized Finance Division (DEFI) led the cryptocurrency market in May, with token prices rising 19%, surpassing 11% of Bitcoin (BTC).
According to Binance Report, this performance reflects an innovative protocol and capital turnover into performance opportunities.
On-chain activity has grown in parallelDefi’s total block value (TVL) reaches $119,000 millionthe highest level since February.
Aave (aave) that showed significant growth among pioneer-related tokens or in more established decentralized protocols in the defi ecosystem, showed significant growth, Moves from $150 at the beginning of May to a peak of $275 At the end of the month, the increase was 71%.
UNISWAP (UNI) also rebounded, rising from a minimum of $4 on May 7 to $7 at the end of the month, up 63.16%.
Pancakeswap (cake) rose 50%, up to $2.85 from $1.90 in early May, a significantly higher TVL peak of $6,300 million compared to Uniswap of 4.9 billion. This shows that Pancakeswap attracted and retained more capital and established a difference of $1.4 billion in TVL during this period.
The potential for a rebound in Defi Token has been attributed to the growth of Ethereum’s cryptocurrency ether (ETH) in recent weeks. ETH shows an upward trend from the beginning of May, starting at a minimum of $1,700 At the end of May, it peaked at nearly $2,700.which represents an approximate increase of 58%. The attribution of increased tokens depends on ether performance due to its dependence on the Ethereum network where most Defi protocols run.
in contrast, Games and Layer 2 (L2) sector recorded losses, with games down 5%, L2 7%even when Bitcoin reached a new historic maximum of $111,000. Other sectors that benefited had a 7.9% increase in memokine and exchange tokens, driven by bullishness and greater trading activity, as seen in the following graph.
Other sectors with profit included memokine and exchange tokens, which rose 9.3%, driven by bullishness and greater trading activity, along with an increase of 7.9%.
Additionally, Artificial Intelligence Tokens (AI) won 4.7% and Real World Assets (RWA) rose 3.6%, showing sustained interest. Stablecoins, which increased by 2.2%, maintains a low volatility profile, Its market value exceeded $250 millionmarking growth for 20 months in a row.
Despite the slightest enthusiasm compared to the 2020 boom, Defi continues to develop constantly and is coming to overcome Bitcoin and Memokine.
