The decentralized finance (DeFi) sector showed volatile results in the past 24 hours. As of noon on July 16, 2023, the market capitalization of the industry stood at $50.07 billion, experiencing a 1.15% decrease. However, several cryptocurrencies emerged as leaders in terms of price growth. The native token of the decentralized aggregator, 1inch Network (1INCH), achieved the most successful outcome. This digital currency entered the top 100 and secured the 93rd position.
The price of the cryptocurrency reached $0.397, with a total market capitalization recorded at $377.1 million. Thus, this metric surged by 16.6% in the past 24 hours. The daily trading volumes of 1INCH, facilitated by traders, amounted to $129.82 million, surpassing the previous day’s figures by 551.5%.
In the second position, Compound (COMP) experienced a 10.5% surge in price during the reporting period. It reached $82.01, with the total circulating supply of tokens in the market recorded at $637.51 million. This allowed the virtual currency to rise to the 67th position in the ranking of top performers. The daily trading volumes reached $272 million.
However, not all DeFi cryptocurrencies demonstrated successful results. For instance, the price of the native token of the popular protocol Lido DAO (LDO) decreased by 7.1% during the reporting day. The market capitalization of the digital asset declined to $1.99 billion, causing the virtual currency to drop to the 30th position in the rankings. The daily trading volumes amounted to $60.96 million.
In addition, researchers noted that the cryptocurrency JUST (JST) suffered a significant decline in its price. It decreased by 8.5% in the past 24 hours. The token could be acquired for $0.023, and the market capitalization of the digital currency dropped to $213 million.
