Top DeFi Tokens by Market Capitalization

The DeFi crypto market cap is $86.58B, a 16.86% increase over the last day.

#	Name	Price	24h %	7d %	Market Cap	Volume(24h)	Circulating Supply
1	Uniswap 1 UNI	$33.46	0.94%	26.95%	$17,438,130,898	$967,820,705 28,927,187 UNI	521,208,178 UNI
2	Chainlink 2 LINK	$31.14	6.97%	5.71%	$12,814,480,835	$2,098,139,156 67,377,237 LINK	411,509,556 LINK
3	Wrapped Bitcoin 3 WBTC	$54,052.30	8.30%	10.30%	$7,027,769,110	$212,313,808 3,928 WBTC	130,018 WBTC
4	Aave 4 AAVE	$429.58	8.99%	10.49%	$5,340,488,497	$547,604,891 1,274,748 AAVE	12,431,911 AAVE
5	Terra 5 LUNA	$10.98	28.43%	69.45%	$4,400,367,430	$684,361,077 62,343,273 LUNA	400,860,480 LUNA
6	Avalanche 6 AVAX	$28.20	9.81%	0.85%	$3,560,518,768	$513,918,335 18,224,416 AVAX	126,262,034 AVAX
7	Dai 7 DAI	$1.00	0.07%	0.08%	$2,599,291,288	$495,174,402 494,594,627 DAI	2,596,247,907 DAI
8	Synthetix 8 SNX	$22.21	5.50%	1.02%	$2,551,024,724	$113,314,082 5,101,151 SNX	114,841,533 SNX
9	SushiSwap 9 SUSHI	$18.05	2.83%	8.63%	$2,296,874,156	$419,943,752 23,264,448 SUSHI	127,244,443 SUSHI
10	Compound 10 COMP	$490.75	4.78%	3.59%	$2,285,423,340	$209,002,158 425,883 COMP	4,656,999 COMP
11	Maker 11 MKR	$2,213.83	5.85%	1.79%	$2,203,292,577	$108,744,961 49,121 MKR	995,239 MKR
12	PancakeSwap 12 CAKE	$13.32	18.02%	8.65%	$1,712,486,822	$255,240,609 19,169,401 CAKE	128,613,335 CAKE
13	UMA 13 UMA	$26.47	17.53%	23.84%	$1,486,902,787	$129,648,753 4,897,387 UMA	56,166,662 UMA
14	yearn.finance 14 YFI	$39,771.24	0.27%	14.88%	$1,457,016,913	$318,344,943 8,004 YFI	36,635 YFI
15	THORChain 15 RUNE	$6.00	9.65%	13.31%	$1,430,289,946	$40,212,760 6,699,149 RUNE	238,275,761 RUNE
16	Bancor 16 BNT	$9.17	11.67%	64.36%	$1,412,946,634	$322,687,449 35,188,339 BNT	154,078,643 BNT
17	Ren 17 REN	$1.24	5.19%	8.41%	$1,232,133,068	$208,498,275 168,568,058 REN	996,163,051 REN
18	Fantom 18 FTM	$0.4756	8.97%	8.88%	$1,210,521,833	$180,496,398 379,476,398 FTM	2,545,006,273 FTM
19	0x 19 ZRX	$1.44	4.01%	0.98%	$1,093,645,646	$150,744,385 104,811,938 ZRX	760,407,232 ZRX
20	renBTC 20 RENBTC	$53,856.58	8.61%	10.10%	$736,761,740	$52,476,692 974 RENBTC	13,680 RENBTC
21	Loopring 21 LRC	$0.5994	7.95%	1.75%	$732,116,694	$54,918,946 91,616,938 LRC	1,221,332,445 LRC
22	Reserve Rights 22 RSR	$0.07624	5.12%	24.22%	$712,835,427	$393,013,366 5,155,011,154 RSR	9,349,999,000 RSR
23	1inch 23 1INCH	$4.52	14.63%	7.33%	$651,694,338	$192,210,632 42,536,559 1INCH	144,221,132 1INCH
24	Ocean Protocol 24 OCEAN	$1.47	1.91%	58.42%	$614,257,782	$104,541,019 71,314,510 OCEAN	419,026,837 OCEAN
25	Curve DAO Token 25 CRV	$2.40	14.29%	8.93%	$583,643,293	$277,040,557 115,530,244 CRV	243,388,379 CRV
26	NXM 26 NXM	$70.01	8.09%	16.77%	$446,401,525	$1,387 20 NXM	6,376,519 NXM
27	Kyber Network 27 KNC	$2.15	6.79%	25.11%	$441,573,331	$124,359,084 57,748,007 KNC	205,051,204 KNC
28	Reef 28 REEF	$0.03826	4.37%	22.48%	$431,154,469	$100,605,064 2,629,471,165 REEF	11,268,898,338 REEF
29	Venus 29 XVS	$48.18	27.91%	5.64%	$425,064,941	$127,347,184 2,643,052 XVS	8,822,092 XVS
30	DODO 30 DODO	$4.02	0.49%	4.95%	$399,013,673	$62,235,245 15,472,085 DODO	99,197,386 DODO
31	Orion Protocol 31 ORN	$18.71	13.07%	26.26%	$384,041,099	$39,390,862 2,105,750 ORN	20,530,000 ORN
32	Badger DAO 32 BADGER	$48.43	1.77%	14.42%	$363,014,241	$32,426,043 669,556 BADGER	7,495,779 BADGER
33	Mdex 33 MDX	$4.76	8.92%	1.82%	$362,790,415	$305,340,707 64,099,677 MDX	76,160,000 MDX
34	Augur 34 REP	$30.80	2.79%	7.18%	$338,843,141	$28,316,281 919,243 REP	11,000,000 REP
35	Balancer 35 BAL	$48.62	7.48%	29.08%	$337,574,860	$185,322,082 3,812,029 BAL	6,943,831 BAL
36	Band Protocol 36 BAND	$15.01	10.62%	11.54%	$307,536,432	$204,609,415 13,635,041 BAND	20,494,033 BAND
37	Serum 37 SRM	$6.14	6.35%	10.14%	$307,068,592	$164,525,293 26,789,665 SRM	50,000,000 SRM
38	Alpha Finance Lab 38 ALPHA	$1.71	9.37%	4.46%	$298,557,418	$85,630,576 49,944,844 ALPHA	174,136,442 ALPHA
39	Ampleforth 39 AMPL	$1.01	4.59%	18.50%	$297,308,295	$10,907,256 10,802,846 AMPL	294,462,309 AMPL
40	Mirror Protocol 40 MIR	$6.42	4.88%	27.60%	$270,208,308	$9,679,636 1,507,706 MIR	42,087,804 MIR
41	Swipe 41 SXP	$3.02	16.92%	36.57%	$264,692,112	$513,242,495 169,735,679 SXP	87,536,975 SXP
42	Kava.io 42 KAVA	$4.28	2.88%	2.83%	$250,472,758	$57,860,287 13,519,339 KAVA	58,524,186 KAVA
43	COTI 43 COTI	$0.3708	9.13%	72.65%	$248,319,963	$421,570,739 1,137,012,441 COTI	669,740,238 COTI
44	Polkastarter 44 POLS	$3.96	0.15%	11.19%	$237,097,942	$51,758,722 13,059,858 POLS	59,825,000 POLS
45	Keep Network 45 KEEP	$0.4697	22.21%	43.55%	$233,411,846	$7,808,453 16,622,980 KEEP	496,897,467 KEEP
46	Gnosis 46 GNO	$149.82	6.30%	14.27%	$225,412,255	$1,248,907 8,336 GNO	1,504,587 GNO
47	Origin Protocol 47 OGN	$0.8332	49.98%	125.85%	$216,639,685	$189,955,928 227,989,287 OGN	260,015,719 OGN
48	saffron.finance 48 SFI	$2,627.71	7.62%	30.95%	$204,819,864	$38,264,102 14,562 SFI	77,946 SFI
49	Secret 49 SCRT	$2.93	3.53%	10.08%	$204,407,755	$3,794,609 1,293,970 SCRT	69,703,477 SCRT
50	Injective Protocol 50 INJ	$12.92	9.79%	5.44%	$202,389,022	$34,508,615 2,670,924 INJ	15,664,662 INJ
51	Numeraire 51 NMR	$42.25	6.80%	3.01%	$201,961,159	$22,826,479 540,277 NMR	4,780,190 NMR
52	BakeryToken 52 BAKE	$1.39	17.19%	6.08%	$185,938,300	$42,341,589 30,512,581 BAKE	133,992,549 BAKE
53	Rari Governance Token 53 RGT	$20.16	3.27%	130.08%	$175,104,470	$9,382,424 465,423 RGT	8,686,200 RGT
54	BitShares 54 BTS	$0.05824	7.45%	24.19%	$174,425,627	$16,531,556 283,845,102 BTS	2,994,870,000 BTS
55	Neutrino USD 55 USDN	$0.9975	0.36%	0.49%	$171,684,999	$1,129,021 1,131,841 USDN	172,113,808 USDN
56	DerivaDAO 56 DDX	$6.49	4.70%	7.02%	$169,423,401	$394,674 60,788 DDX	26,094,664 DDX
57	Haven Protocol 57 XHV	$11.61	17.94%	42.72%	$163,020,758	$3,227,069 278,005 XHV	14,043,880 XHV
58	iExec RLC 58 RLC	$2.01	9.60%	38.39%	$160,823,430	$20,045,326 9,980,170 RLC	80,070,793 RLC
59	Vai 59 VAI	$0.9947	0.49%	0.20%	$152,970,666	$5,465,136 5,494,093 VAI	153,781,188 VAI
60	Wanchain 60 WAN	$0.8912	4.39%	9.07%	$150,633,424	$8,330,920 9,348,281 WAN	169,028,581 WAN
61	sUSD 61 SUSD	$1.00	0.01%	0.81%	$143,102,123	$18,600,633 18,509,315 SUSD	142,399,574 SUSD
62	Perpetual Protocol 62 PERP	$6.44	22.53%	22.08%	$140,408,460	$4,752,037 737,655 PERP	21,795,505 PERP
63	JUST 63 JST	$0.05907	5.87%	25.56%	$133,510,751	$217,722,204 3,686,020,113 JST	2,260,326,706 JST
64	Harvest Finance 64 FARM	$239.24	2.90%	11.84%	$119,079,665	$3,232,859 13,513 FARM	497,750 FARM
65	Unifi Protocol DAO 65 UNFI	$34.26	2.19%	11.39%	$116,365,164	$20,619,523 601,878 UNFI	3,396,667 UNFI
66	Akropolis 66 AKRO	$0.043	10.65%	21.34%	$112,896,698	$28,891,997 671,959,281 AKRO	2,625,709,236 AKRO
67	Raydium 67 RAY	$9.80	22.46%	38.78%	$110,481,997	$1,831,584 186,899 RAY	11,273,830 RAY
68	MANTRA DAO 68 OM	$0.39	2.64%	41.77%	$104,678,332	$119,358,120 306,068,361 OM	268,425,186 OM
69	xDai 69 STAKE	$22.95	2.24%	12.78%	$95,327,934	$3,226,190 140,557 STAKE	4,153,200 STAKE
70	DFI.Money 70 YFII	$2,349.13	4.18%	8.56%	$90,666,847	$78,465,392 33,402 YFII	38,596 YFII
71	Request 71 REQ	$0.09066	7.51%	11.45%	$90,653,657	$1,383,513 15,260,179 REQ	999,912,165 REQ
72	Hegic 72 HEGIC	$0.2497	2.31%	2.07%	$89,304,333	$3,835,677 15,363,607 HEGIC	357,703,899 HEGIC
73	Ferrum Network 73 FRM	$0.5942	2.65%	31.56%	$89,108,995	$2,709,584 4,560,397 FRM	149,975,937 FRM
74	Swingby 74 SWINGBY	$0.7297	8.84%	7.08%	$86,548,422	$5,146,048 7,051,820 SWINGBY	118,600,515 SWINGBY
75	bZx Protocol 75 BZRX	$0.5368	8.39%	18.65%	$84,744,141	$26,051,841 48,527,919 BZRX	157,856,669 BZRX
76	Chromia 76 CHR	$0.1808	97.25%	216.33%	$77,692,157	$369,012,708 2,041,398,310 CHR	429,797,224 CHR
77	Cream Finance 77 CREAM	$125.30	6.30%	3.34%	$77,233,527	$2,810,310 22,428 CREAM	616,378 CREAM
78	DIA 78 DIA	$2.66	6.61%	16.72%	$75,177,424	$28,625,207 10,765,059 DIA	28,271,916 DIA
79	Tellor 79 TRB	$43.81	1.38%	27.64%	$74,634,645	$35,170,883 802,731 TRB	1,703,442 TRB
80	Anyswap 80 ANY	$4.00	39.31%	34.92%	$74,633,841	$659,622 164,725 ANY	18,637,970 ANY
81	Enzyme 81 MLN	$41.36	1.39%	8.42%	$73,533,832	$2,110,292 51,018 MLN	1,777,723 MLN
82	Marlin 82 POND	$0.1611	8.93%	15.29%	$73,354,631	$79,511,383 493,433,644 POND	455,225,924 POND
83	Zap 83 ZAP	$0.2957	3.91%	15.94%	$69,820,723	$2,789,448 9,434,343 ZAP	236,144,465 ZAP
84	Standard Tokenization Protocol 84 STPT	$0.06444	38.41%	53.59%	$66,058,564	$256,038,281 3,973,381,981 STPT	1,025,143,223 STPT
85	DAO Maker 85 DAO	$3.93	9.04%	5.62%	$64,411,881	$5,741,273 1,461,794 DAO	16,400,000 DAO
86	Fusion 86 FSN	$1.31	26.27%	90.18%	$64,530,964	$51,106,532 39,156,571 FSN	49,442,042 FSN
87	Frax Share 87 FXS	$8.36	21.70%	6.35%	$63,222,155	$10,978,069 1,313,420 FXS	7,563,922 FXS
88	Bella Protocol 88 BEL	$2.83	8.03%	28.03%	$63,210,846	$18,619,432 6,590,796 BEL	22,375,000 BEL
89	Frontier 89 FRONT	$2.31	11.35%	24.05%	$62,319,492	$30,235,267 13,099,468 FRONT	27,000,000 FRONT
90	Beam 90 BEAM	$0.7262	18.79%	32.76%	$60,517,727	$20,831,663 28,686,953 BEAM	83,338,000 BEAM
91	RAMP 91 RAMP	$0.3162	35.71%	30.24%	$59,754,261	$5,846,507 18,490,296 RAMP	188,980,200 RAMP
92	Vesper 92 VSP	$35.16	35.63%	2.85%	$58,043,513	$9,457,585 268,999 VSP	1,650,912 VSP
93	Nash Exchange 93 NEX	$1.96	6.25%	112.92%	$57,043,823	$625,275 319,700 NEX	29,166,201 NEX
94	Keep3rV1 94 KP3R	$269.09	1.77%	3.83%	$53,817,917	$8,534,779 31,717 KP3R	200,001 KP3R
95	Oxen 95 OXEN	$1.01	6.50%	11.18%	$53,597,688	$86,255 85,574 OXEN	53,174,265 OXEN
96	TrueFi 96 TRU	$0.3782	10.30%	16.38%	$53,182,528	$7,122,908 18,832,150 TRU	140,608,485 TRU
97	Bounce Token 97 AUCTION	$24.59	5.32%	11.61%	$51,250,615	$4,275,104 173,835 AUCTION	2,083,956 AUCTION
98	cVault.finance 98 CORE	$5,037.75	7.92%	14.27%	$50,377,451	$1,177,563 234 CORE	10,000 CORE
99	BoringDAO 99 BOR	$594.52	3.16%	5.33%	$48,660,565	$7,624,831 12,825 BOR	81,849 BOR
100	IDEX 100 IDEX	$0.08348	20.96%	31.70%	$48,064,956	$3,120,361 37,376,520 IDEX	575,734,854 IDEX

Showing 1 - 100 out of 100

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What Is DeFi?

In the past, when people thought of the crypto industry, many would assume it is just about Bitcoin and other crypto coins. But, lately, advancements made in the industry have birthed a new movement that has democratized financial services beyond a central authority or institution's regulations. This development is broadly known as decentralized finance, DeFi for short.

While Bitcoin has already arguably had a Copernicus effect on our payment and financial system, DeFi also holds the same promise. DeFi essentially provides financial services like savings, loans, trading, insurance and more to practically anyone with an internet-enabled smartphone. Here, the need for an intermediary is greatly diminished as DeFi technically uses "smart contracts" that are built on blockchain, which automatically looks to enforce any agreements in such contracts.

For want of a definition, let us say that DeFi uses blockchain-powered technologies to provide financial services across various niches without the limitation of central systems or human censorship. DeFi can also be referred to as open finance.

The industry, though still growing, has already recorded massive growth in the last year. The DeFi market cap stands at over $35 billion now, while the total value locked (TVL) in the space is also well over $20 billion. As of January 2020, the figure stood at a paltry $1 billion, which shows that the industry has become more trusted and respected by investors in the crypto space.

Understanding Decentralized Applications (DApps)

In the DeFi space, one prominent component of the system is the idea of decentralized applications. DApps play a very significant role in understanding how the industry operates and the capabilities of the industry.

Most of these decentralized applications are built on Ethereum, the second-largest crypto asset, and it is also straightforward to build other decentralized apps. A developer can quickly deploy a "smart contract" on Ethereum using the Solidity programming language to good effect.

Smart contracts help to carry out transactions automatically, right when certain conditions are met. With blockchain, the conditions of these contracts are set in stone. If the necessary conditions are met, then the transaction goes on seamlessly without any third party interference.

Generally, most DApps make use of these smart contracts to power their operations. Here is a list of some of the types of DApps:

Decentralized Exchanges (DEX)

The idea behind a DEX is to provide a platform where users can easily exchange their currencies without a central body's interference. In DEXs, users can either exchange crypto assets for a fiat currency or vice versa, and in some cases, users can also exchange a crypto coin for another. One of the most popular DEX is Binance DEX, which allows its users access to its platform through its native token and other tokens.

Lending Platforms

Growing up, we were taught that only conventional financial institutions like banks could provide lending facilities to those who need them. But with the developments made in DeFi, one can easily enjoy these same financial services from DApps that have tailored their functionality to meet these services. To borrow from these platforms, a user would just have to fulfill specific criteria that might be in the smart contract, and voila, they have access to loans and so much more. One such top DeFi coin is Compound, which has disrupted the lending space with its protocol.

Stablecoins

One issue with cryptocurrencies is the volatility of the market. The crypto market is prone to wild price swings, which is why some investors have remained reluctant to invest in crypto. To battle this, stablecoins were developed. A stablecoin is a crypto asset that is pegged to a non-crypto asset (although there are several stablecoins with a crypto peg). The majority of the time, a stablecoin’s peg is a fiat currency like the dollar or euro. One of the top DeFi tokens is Tether, which is pegged to the U.S. Dollar at a 1-to1 ratio.

"Wrapped" Bitcoin (WBTC)

Wrapped Bitcoin is designed to allow users to be able to directly use the leading crypto asset on the Ethereum-backed DeFi system. With Wrapped Bitcoin, users enjoy interest in the amount of BTCs they lend out through the different lending platforms.

Interest in DeFi Is Rising, Here Is Why

Earlier, we spoke of how the crypto industry has grown over time from having a paltry TVL to becoming one of the top mediums where investors stake to gain more profit. There is no denying that the crypto industry presents a new opportunity far beyond the normal that changes everything in the financial industry, but what are the opportunities that DeFi brings?

DeFi Does Not Need Regulators.

The first reason why interest in DeFi keeps rising is that it does not need regulators. In the traditional financial system, regulators sometimes are an “albatross” as they mandate that these conventional institutions implement certain policies that can be limiting.

However, with DeFi, there is no such thing as regulators; instead, the focus is on privacy and bringing the financial system to all, thereby boosting financial inclusivity.

Presence of Institutional Investors

The blockchain-backed crypto industry generally has seen a rise in the interest of mainstream institutional investors. Today, we see Square, PayPal, Grayscale Investment, and a host of others buying and hodling Bitcoin because it is now seen as the new gold.

Other institutions that are not buying BTC are making use of blockchain technology to drive their businesses forward. An example is the Office of the Comptroller of Currency in the United States, which recently announced that banks can now issue stablecoins in exchange for fiat currencies.

Plummeting Traditional Financial System Interest Rate

Another top reason why most people are beginning to invest in DeFi tokens lies in the fact that interest rates across the globe are beginning to drop massively, which could be tied to the pandemic's effect plus the acts of regulatory bodies. There is absolutely nothing like that with DeFi.

Top DeFi tokens like Compound offer a higher interest rate than most financial institutions; other assets like Tether also offer their users an opportunity to earn interest, especially when they stake the crypto asset.

While the traditional financial system and its regulators might discourage people from investing in crypto, there is no denying that we are heading towards a more decentralized financial system where privacy is a crucial feature.

It is worth it to note that the DeFi industry poses some level of investment risks. Still, even the conventional system has its own risks, which means that investors looking to maximize the DeFi industry need to have a proper understanding of how it operates before diving into it. Nevertheless, DeFi is here to stay, and in little or no time, we could begin to witness more groundbreaking use cases of the industry.