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DeFi enjoys a prolific start to 2023: Finance Redefined

DeFi marks a perfect entry into 2023 with a bullish January and TVL nearing $50 billion.

Welcome to Financial Refined, your weekly insight into the most basic decentralized accounting (Defi)-a newsletter that provides you with key trends over the past week.

Gradually bullish on the full login password market in 2023, including the Defi ecosystem, most tokens completed double-digit gains in January and set a new record for several months. In addition to the big bull market, losses caused by Defi vulnerabilities and hacking fell 93 per cent in January from a year earlier.

A series of regulatory actions for Qingmang market diggers is called a big victory in the field of Defi. Standard & Poor's, a credit rating company, shows that the Foreign Securities and Exchange Commission (SEC) and the Commodity Futures Trading Federation (CFTC) have taken action against suspected criminals, suggesting that Defi is becoming more "safer and more attractive".

In most proactive developments, the Solana Defi agreement Everlend shut down due to the lack of liquidity caused by the FTX dilemma and told the client to withdraw the assets. North Korean cyber hackers also tried to launder $27 million in ETH from the attack on the Harmony overpass.

With the total amount locked in the Defi contract (TVL) reaching nearly $50 billion, the bullish trend of the top 100 Defi tokens continued until February, with the prices of most tokens soaring for a week.

Defi has the beginning of prolificacy in 2023: Dapp radar detection

In January, the Defi agreement experienced the prosperity of TVL in different chips pools. The market's stock of assets reached $74.6 billion, up 26% from December.

In its latest monthly work plan, Dappra outlines the improvement in the Defi industry and its renewed vitality in the irreplaceable token (NFT) market, where trading volume and total sales have also increased.

Keep reading.

The damage to login password system vulnerabilities decreased by nearly 93% in January compared with the same period last year.

In addition to the rebound of the bullish login password market in January, there is also a lot of proactive area information, as the loss caused by the attack has dropped significantly compared with January 2022.

As of January 31, login password attacks caused $8.8 million in damage, according to blockchain security company PeckShield. There are 24 attacks in a month, and login passwords worth $2.6 million are sent to mixers such as Tornado Cash. The property category issued to the switch valve consists of 1200 ETH and approximately 2668 BNB.

Keep reading.

The management and control action of Qingmang market diggers is a victory for Defi-Moody.

According to S & P, a credit rating firm, the recent complaint against Avraham Eisenberg, a market digger in Qingmang, will have a positive impact on Defi interior space.

In a statement from S & P's rating investor service center on January 31st, Cristiano Vipicelli, assistant vice president of diversified financing, said law enforcement actions taken by two key foreign market regulators in January represented Defi's move towards a "safer and friendlier natural environment".

Keep reading.

Solana Defi agreement Everlend shuts down due to liquidity problems

Solana Defi agreement Everlend has shut down its business and urged customers to withdraw assets from the site.

The company announced the decision on Twitter on Feb. 1, saying that although there were "plenty of stadiums" to operate again, it would be a gamble in the current market environment.

Keep reading.

North Korean cyber hackers try to launder 27 million dollars from the attack on the Harmony overpass.

The North Korean exploiters behind the Harmony overpass attack tried again to launder money and stolen money in June 2022. According to the online data released by blockchain technology probe ZachXBT on Jan. 28, the culprit moved to 17278 ETH over the weekend, worth about $27 million.

ZachXBT wrote on Twitter that the tokens were transferred to six login password trading centers, but did not reveal that any service platform had received such tokens. There are three main detailed addresses for sale.

Keep reading.

Brief introduction of DEFI Market

Dissecting data show that the total market capitalization of Defi has remained above $40 billion in the past week, with a transaction price of about $48.1 billion at the time of writing. The top 100 tokens in Defi's total market capitalization are mainly bullish this week, with most tokens rising, according to Cointelegraph Markets Pro and TradingView statistics.

DYDX (DYDX) is once again the biggest gainer, rising 39% on the weekly chart, slightly less than Fantom (FTM), which inherited last week's bullish trend, rising 33% a week.

Thank you for reading the summary of the most influential Defi trends this week. Join us next Friday to get more short stories and opinion education in such a dynamic development space.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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