These 4 Smaller DeFi Protocols Note Strong TVL Gains This Weekend

As the crypto markets rebound again, so too will the DeFi TVL. Numerous protocols note a substantial influx of funds these past 24 hours. Although none of these projects are significant players, it shows decentralized finance needs bullish market momentum to reclaim lost ground. 

SolidlyDEX (Ethereum)

The Ethereum ecosystem has many different decentralized exchanges and trading solutions. Uniswap is the primary avenue, but dozens of other opportunities exist. One such project is SolidlyDEX, which welcomed an 80% TVL increase in the past day. The DEX is a “self-optimizing protocol combined the best of Curve and Uniswap. Unfortunately, the native SOLID token represents over 90% of the TVL, although there is a decent amount of USDC, WETH, and USDT too. 

Level Finance (BNB Chain)

Derivatives trading is an excellent way to gain crypto price exposure without holding specific assets. Traders can “bet” on the price of supported assets and their future performance to maximize profits. Level Finance is a decentralized perpetual exchange that primarily supports BUSD, BNB, USDT, BTCB, ETH, LVL, and CAKE assets. Most of the liquidity resides in BUSD and BNB. Moreover, the recent 61.89% TVL increase emphasizes this DeFi protocol more strongly.

Sonne Finance (Optimism)

Although there has been a steep dip in overall Optimism network activity, Sonne Finance tries to buck the trend. The decentralized lending protocol for individuals, institutions, and protocols notes a healthy balance of USDC, DAI, USDT, and WETH assets. In addition, it supports OP, WBTC, SUSD, and SNX. The protocol received a 43.86% TVL increase in the past 24 hours. DeFi on Optimism still has potential to succeed, although its native protocols will need more overall liquidity.

API3 (Ethereum)

Using a decentralized oracle solution to create Web3 solutions and applications can prove crucial in current and future industry development. API3 aims to provide that service and focus on efficiency, regulatory compliance, and simplicity. The protocol’s TVL is entirely made up of API3 tokens staked in the DAO Pool contract. The 35.87% one-day TVL increase is remarkable for this DeFi protocol. However, it comes from the price increasing by a significant margin, rather than more deposits into the contract. 

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.

JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

Published by
JP Buntinx

Recent Posts

The U.K. Has A Growing Crypto Problem And Banks Are To Blame For Their Narrow-Minded Approach

Crypto advocates are calling on the U.K. government to address the banking challenges many of…

51 mins ago

Arbitrum Airdrop Causes Chaos On Arbitrum Network, Avorak AI Launch Will Be Much Smoother

The buzz has been all around Arbitrum recently, with the ARB coin release on all…

3 hours ago

Crypto market prediction for 2023, what will happen?

Although the crypto market performed exceptionally well in 2020 and 2021, hard times began for…

3 hours ago

Animoca Brands Refutes Bold Claims Regarding Its Metaverse Position and Company Valuation

Animoca Brands has refuted claims that it reduced its target for the metaverse fund by…

5 hours ago

Polkadot and Big Eyes Coin Are Designed To Be Long Lasting Crypto Assets

When the crypto train first came around, several individuals gave everyone who climbed aboard the…

6 hours ago

Nouriel Roubini Warns of “Mother of All Debt Crises” and Severe Recession Ahead

Renowned economist Nouriel Roubini, also known as “Dr. Doom” for his accurate prediction of the…

16 hours ago