Decentralized Finance (DeFi) has grown significantly in the past few years according to total value locked (TVL) and exchanged volume. As of recently, the volume in DeFi has consistently surged to above $10 billion daily, similar to 2021’s bull market.
In particular, volume is a solid metric for identifying trends and investors’ interest in the cryptocurrency market or specific sectors.
However, volume can spike in atypical days without consistency, which creates false technical indicators. Looking at consistent behavior is crucial when evaluating trends and the market’s momentum.
On that note, Finbold retrieved data from DefiLlama on March 17, which shows a strong momentum for decentralized exchanges. This suggests the DeFi ecosystem is heating up for a remarkable rally with expressive capital flow among decentralized finance protocols.
Daily volume in DeFi surpasses $10 billion
Notably, the daily exchange volume in DeFi has surpassed the $10 billion mark, currently
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