{"id":10058,"date":"2022-04-13T19:26:01","date_gmt":"2022-04-13T19:26:01","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/multi-chain-stocks-and-stablecoin-focused-defi-protocols-are-showing-signs-of-strength\/"},"modified":"2022-04-13T19:26:05","modified_gmt":"2022-04-13T19:26:05","slug":"multi-chain-stocks-and-stablecoin-focused-defi-protocols-are-showing-signs-of-strength","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/multi-chain-stocks-and-stablecoin-focused-defi-protocols-are-showing-signs-of-strength\/","title":{"rendered":"Multi-chain, stocks and stablecoin-focused DeFi protocols are showing signs of strength"},"content":{"rendered":"
The cryptocurrency market has far faced an uphill battle for the larger part of 2022 due to global economic headwinds on multiple fronts, along with supply chain constraints, blistering inflation and the ongoing war in Ukraine.\u00a0<\/p>\n
Despite the weakness seen in a majority of crypto assets, several decentralized finance (DeFi) protocols have managed to strengthen their fundamentals and entice new users to enter their ecosystems. <\/p>\n
Here\u2019s a look at four protocols that are showing strength even as the wider crypto market struggles to gain footing. <\/p>\n
Balancer (BAL) is an automated market maker (AMM) on the Ethereum (ETH) blockchain that offers users a range of DeFi capabilities including the ability to stake tokens, provide liquidity, participate in governance voting and perform token swaps. <\/p>\n
According to data from Token Terminal, the total value locked (TVL) on Balancer is currently $3.54 billion, the third-highest TVL in the history of the protocol despite falling prices across the cryptocurrency market. <\/p>\n