Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
LEgacy System
Difference between DeFi and Traditional Financial Systems
If you are a cryptocurrency enthusiast, you must have come across DeFi, space's current pet subject. As of 03 September 2023, it had locked assets with a total value of over $38.5 billion. It grew exponentially from an initial $677 million in early January 2020. But what is DeFi? How does it compare to traditional financial systems? Significantly, where can it find practical usage? This article will attempt to answer these questions. First, though, let us look at how it…
5 years ago