- The top 3 defi by volume are LINK, LUNA, and DAI.
- Chainlink enables blockchains to securely interact with external data feeds.
- DAI development is managed by Maker Protocol and the MakerDAO.
The top 3 decentralized finance (DeFi) by volume are Chainlink(LINK), Terra (LUNA), and Dai (DAI).
1. Chainlink (LINK)
The first top DeFi by volume is LINK. It has secured the 17th rank in CoinMarketCap. More so, Chainlink enables blockchains to securely interact with external data feeds, events, and payment methods, facilitating the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement. It was the first network to enable the incorporation of off-chain data into smart contracts.
Accordingly, as per CoinMarketCap, LINK’s price has been trading at $26.27 with a 24-hour trading volume of $1,306,398,264. The circulating supply of LINK is 458,009,553.92. LINK can traded in crypto exchanges such as Huobi Global, Coinbase Pro, Gate.io, Kraken.
2. Terra (LUNA)
The next top DeFi by volume is Terra (LUNA). It is a blockchain protocol that utilizes fiat-pegged stablecoins to power price-stable global payments systems. Particularly in the Asia-Pacific region, Terra has established several collaborations with payments platforms. Terra has used a proof-of-consensus so the blockchain is more secured. The native token of Terra, LUNA, utilized to stabilize the price of the protocol’s stablecoins.
More so, according to CoinMarketCap, LINK’s price was trading at $36.36 with a 24-hour trading volume of $1,002,170,124. And the circulating supply of LUNA is 401,763,541.27 LUNA.
3. Dai (DAI)
The 3rd top decentralized finance (DeFi) by volume is Dai (DAI). DAI, an Ethereum-based stablecoin and its development is managed by Maker Protocol and the MakerDAO decentralized autonomous organizations. Furthermore, new DAI tokens are not created through mining like Bitcoin (BTC) and Ethereum (ETH), they are minted by a private company as per their issuance police like Tether (USDT). Another main advantage of DAI it is managed by a decentralized autonomous organization through a software protocol.
According to CoinMarketCap, the DAI price was trading at $0.9997 with a 24-hour trading volume of $1,028,545,316 and in the last 24-hour the volume of Dai has been gained 138.67%. The circulating supply of DAI is 6.47B DAI.
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