Investors began to massively start in the DeFi sector after the fall of FTX

After the market has long been discussing and experiencing the fall of the American FTX exchange, many investors have decided to invest in a sector that differs from the philosophy of centralized exchanges. Thus, more than $2,000,000,000 has been invested in the DeFi sphere. Amid the news, many exchanges that have a decentralized way of accumulating their funds have begun to gain confidence among investors.

Information about the massive investment of funds was shared by Bloomberg, which referred to data obtained from CryptoCompare and DeFiLlama. Since the beginning of November, trading volumes on decentralized trading platforms have increased by 11% and now amount to $62,000,000,000. At the same time, it is worth noting that on decentralized exchanges like dYdX and Curve Finance, the number of transactions has increased by 2 times and even more.

Analyst firm Nansen, in turn, reports that decentralized lending protocols Aave and Compound are also experiencing a significant increase in user activity. Aave gained 68% more users, while Compound showed more modest numbers and got more active users by 46%.

A large increase was also seen in other sites that are involved in the decentralized finance sector. Several have been able to give very good returns to their investors. The best performance was shown by a startup called DFI.Money (YFII). For a week, the exchange token went from $1,996 to $3,876. Thus, investors who invested in YFII a week ago were able to get a profit of 94.1%. It is noteworthy that only in the last 24 hours DFI.Money increased from $2,870 to $3,876, which equates to a 35% profit.

The Chrono.tech (TIME) project also deserves special attention, which was able to increase about 85% in one week. On November 13th, the value of TIME was $41.7, while at the time of writing, 1 TIME token is valued at $77.5. Previously, the cost of the Chrono.tech token reached a peak of $92.75.

Other DeFi platform tokens, although they showed a good increase, but as a result, over the past day or a couple of days, they began to decline, and some of them have already reached the level from which they started a week ago.

Pascal Gauthier, CEO of Ledger, which is known for producing cold wallets, also noted that the demand for their product has increased significantly. This is all due to the fact that many investors began to prefer storing bitcoins in hardware wallets instead of leaving their savings on exchanges and exposing them to the same risk that was seen with FTX users. Last week, Ledger posted the highest sales in the company's history, according to Gauthier. He did without exact numbers, but it is known that now most traders and investors will switch to storing funds on hardware wallets.

Previously, FTX faced financial problems that they were unable to resolve. In this regard, most of the cryptocurrency investors who kept their funds on the FTX exchange were left without funds, as the American company stopped the withdrawal, after which it declared bankruptcy. Along with this, the head of FTX, Sam Bankman-Fried, resigned and called this decision the most difficult in his life. Later it became known that he conducted business extremely incompetently and even used the assets of an American company in order to cover the debts of Alameda Research, which is directly related to FTX.