The world of decentralized finance (DeFi) is experiencing a surge in lending protocols, with Radiant Capital ($Rdnt) leading the pack with an impressive 188% surge in coin performance in 2024.
Notably, $QI, $SILO, and $WELL are following closely, each experiencing over 100% growth.
Among lending protocols in the DeFi space, Radiant Capital ($RDNT) leads the pack with a stellar 188% coin performance surge in 2024! Not far behind are $QI, $SILO, and $WELL, all boasting over 100% growth. 🌱💰 pic.twitter.com/RQOepxB9a8
— Wealth📈 (@WealthNkem) January 16, 2024
Radiant Capital ($RDNT), an Aave offshoot, has emerged as a dominant force, representing approximately 40% of all transaction activity since its introduction in 2023.
Since its launch, Radiant Capital $RDNT, a fork of Aave, has accounted for nearly 40% of all trade volume in 2023.
This impressive achievement can be attributed to the farming incentives paid out in its native token, $RDNT, which liquidity farmers often trade to realize gains.… pic.twitter.com/xQgXqRV7gM
— Slim Daddy◻️𓃵 ₿ (@felixreads) January 16, 2024
The success of Radiant Capital can be attributed to the farming incentives associated with its native token, $RDNT. Liquidity farmers actively engage in trading liquidity for profits, contributing to the protocol’s remarkable performance.
Total Value Locked In Lending Protocol Now Represents 18.9%
Data from intotheblock reveals that in 2022, the $AAVE protocol led all loan protocols in transaction volume. Impressively, in 2024, it has reclaimed the top position on the leaderboards, securing a significant 60% market share and accounting for 46% of transaction volume among lending protocols.
The total value locked (TVL) in lending protocols now represents 18.9% of the overall TVL, marking a slight increase from the 16.2% recorded one year ago.
Lending protocol TVL accounts for 18.9% of total TVL, a slight increase from 16.2% one year ago.
🔗https://t.co/urDZyvhnIA pic.twitter.com/yu0yB6CoIh— IntoTheBlock (@intotheblock) January 16, 2024
These developments underscore the growing significance of lending protocols in the dynamic landscape of DeFi, with Radiant Capital leading the way and other protocols like $QI, $SILO, and $WELL making substantial strides in terms of growth. The prevalence of farming incentives and the dominance of $AAVE further highlight the evolving trends within the decentralized finance sector in 2024.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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