• bitcoinBitcoin (BTC) $ 108,429.00
  • ethereumEthereum (ETH) $ 2,565.48
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.28
  • bnbBNB (BNB) $ 659.65
  • solanaSolana (SOL) $ 150.98
  • usd-coinUSDC (USDC) $ 0.999890
  • tronTRON (TRX) $ 0.286321
  • dogecoinDogecoin (DOGE) $ 0.168960
  • staked-etherLido Staked Ether (STETH) $ 2,564.28
  • cardanoCardano (ADA) $ 0.580489
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 108,380.00
  • hyperliquidHyperliquid (HYPE) $ 37.66
  • wrapped-stethWrapped stETH (WSTETH) $ 3,097.05
  • bitcoin-cashBitcoin Cash (BCH) $ 503.90
  • suiSui (SUI) $ 2.89
  • chainlinkChainlink (LINK) $ 13.45
  • leo-tokenLEO Token (LEO) $ 9.07
  • stellarStellar (XLM) $ 0.252187
  • avalanche-2Avalanche (AVAX) $ 18.09
  • usdsUSDS (USDS) $ 0.999781
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • wrapped-eethWrapped eETH (WEETH) $ 2,749.65
  • the-open-networkToncoin (TON) $ 2.76
  • hedera-hashgraphHedera (HBAR) $ 0.160188
  • wethWETH (WETH) $ 2,566.38
  • litecoinLitecoin (LTC) $ 86.38
  • whitebitWhiteBIT Coin (WBT) $ 44.87
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • moneroMonero (XMR) $ 313.72
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 108,458.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • polkadotPolkadot (DOT) $ 3.38
  • bitget-tokenBitget Token (BGB) $ 4.29
  • uniswapUniswap (UNI) $ 7.53
  • aaveAave (AAVE) $ 286.58
  • pepePepe (PEPE) $ 0.000010
  • daiDai (DAI) $ 0.999881
  • pi-networkPi Network (PI) $ 0.456876
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • bittensorBittensor (TAO) $ 319.06
  • crypto-com-chainCronos (CRO) $ 0.093714
  • okbOKB (OKB) $ 48.02
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • aptosAptos (APT) $ 4.38
  • jito-staked-solJito Staked SOL (JITOSOL) $ 183.29
  • nearNEAR Protocol (NEAR) $ 2.16
  • internet-computerInternet Computer (ICP) $ 4.75
  • ethereum-classicEthereum Classic (ETC) $ 16.58
  • ondo-financeOndo (ONDO) $ 0.788159
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • kaspaKaspa (KAS) $ 0.075320
  • fasttokenFasttoken (FTN) $ 4.45
  • mantleMantle (MNT) $ 0.567277
  • cosmosCosmos Hub (ATOM) $ 4.07
  • gatechain-tokenGate (GT) $ 15.42
  • vechainVeChain (VET) $ 0.020453
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.666617
  • bonkBonk (BONK) $ 0.000022
  • official-trumpOfficial Trump (TRUMP) $ 8.52
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.186992
  • skySky (SKY) $ 0.078571
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 108,207.00
  • arbitrumArbitrum (ARB) $ 0.331887
  • render-tokenRender (RENDER) $ 3.15
  • ethenaEthena (ENA) $ 0.254243
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,568.36
  • filecoinFilecoin (FIL) $ 2.27
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.50
  • algorandAlgorand (ALGO) $ 0.175124
  • worldcoin-wldWorldcoin (WLD) $ 0.857479
  • usdtbUSDtb (USDTB) $ 0.999668
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997030
  • binance-staked-solBinance Staked SOL (BNSOL) $ 160.51
  • kucoin-sharesKuCoin (KCS) $ 11.05
  • sei-networkSei (SEI) $ 0.253065
  • usdt0USDT0 (USDT0) $ 0.999578
  • jupiter-exchange-solanaJupiter (JUP) $ 0.425926
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,689.17
  • nexoNEXO (NEXO) $ 1.22
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,924.44
  • spx6900SPX6900 (SPX) $ 1.29
  • tokenize-xchangeTokenize Xchange (TKX) $ 14.46
  • celestiaCelestia (TIA) $ 1.61
  • flare-networksFlare (FLR) $ 0.016036
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999807
  • xdce-crowd-saleXDC Network (XDC) $ 0.065093
  • fartcoinFartcoin (FARTCOIN) $ 1.04
  • injective-protocolInjective (INJ) $ 10.46
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 108,660.00
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,740.37
  • blockstackStacks (STX) $ 0.643237
  • sonic-3Sonic (S) $ 0.301116
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,694.12
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.015268
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.46
  • optimismOptimism (OP) $ 0.536046
  • pax-goldPAX Gold (PAXG) $ 3,304.96
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 108,314.00
  • wbnbWrapped BNB (WBNB) $ 659.69
  • story-2Story (IP) $ 3.07
  • paypal-usdPayPal USD (PYUSD) $ 0.999783
  • kaiaKaia (KAIA) $ 0.148759
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,697.47
  • clbtcclBTC (CLBTC) $ 109,014.00
  • dogwifcoindogwifhat (WIF) $ 0.837013
  • flokiFLOKI (FLOKI) $ 0.000087
  • the-graphThe Graph (GRT) $ 0.083181
  • tether-goldTether Gold (XAUT) $ 3,297.90
  • vaultaVaulta (A) $ 0.502595
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 169.44
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.27
  • immutable-xImmutable (IMX) $ 0.414392
  • msolMarinade Staked SOL (MSOL) $ 197.38
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,771.61
  • ousgOUSG (OUSG) $ 111.71
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.74
  • curve-dao-tokenCurve DAO (CRV) $ 0.506309
  • theta-tokenTheta Network (THETA) $ 0.683005
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998278
  • zcashZcash (ZEC) $ 41.22
  • lido-daoLido DAO (LDO) $ 0.710246
  • jito-governance-tokenJito (JTO) $ 1.84
  • galaGALA (GALA) $ 0.014043
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.08
  • ethereum-name-serviceEthereum Name Service (ENS) $ 18.56
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 111,102.00
  • iotaIOTA (IOTA) $ 0.156187
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • saros-financeSaros (SAROS) $ 0.227095
  • the-sandboxThe Sandbox (SAND) $ 0.243526
  • raydiumRaydium (RAY) $ 2.21
  • usual-usdUsual USD (USD0) $ 0.997681
  • jasmycoinJasmyCoin (JASMY) $ 0.012094
  • aerodrome-financeAerodrome Finance (AERO) $ 0.687644
  • super-oethSuper OETH (SUPEROETH) $ 2,566.02
  • wrapped-hypeWrapped HYPE (WHYPE) $ 37.63
  • newton-projectAB (AB) $ 0.008495
  • tbtctBTC (TBTC) $ 108,258.00
  • tezosTezos (XTZ) $ 0.527077
  • pendlePendle (PENDLE) $ 3.35
  • pyth-networkPyth Network (PYTH) $ 0.095916
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,744.89
  • walrus-2Walrus (WAL) $ 0.397390
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,566.12
  • falcon-financeFalcon USD (USDF) $ 0.992246
  • syrupMaple Finance (SYRUP) $ 0.500718
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,683.32
  • flowFlow (FLOW) $ 0.326104
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 108,526.00
  • decentralandDecentraland (MANA) $ 0.263277
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,564.69
  • coredaoorgCore (CORE) $ 0.491149
  • true-usdTrueUSD (TUSD) $ 0.996888
  • bitcoin-svBitcoin SV (BSV) $ 24.56
  • ripple-usdRipple USD (RLUSD) $ 0.999882
  • venomVenom (VENOM) $ 0.229715
  • apecoinApeCoin (APE) $ 0.598835
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999903
  • chain-2Onyxcoin (XCN) $ 0.013679
  • thorchainTHORChain (RUNE) $ 1.32
  • dexeDeXe (DEXE) $ 7.73
  • staked-hypeStaked HYPE (STHYPE) $ 37.63
  • apenftAPENFT (NFT) $ 0.00000044
  • beldexBeldex (BDX) $ 0.060776
  • morphoMorpho (MORPHO) $ 1.36
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.169007
  • kavaKava (KAVA) $ 0.396475
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004286
  • based-brettBrett (BRETT) $ 0.042451
  • usddUSDD (USDD) $ 1.00
  • heliumHelium (HNT) $ 2.25
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • mog-coinMog Coin (MOG) $ 0.000001
  • stader-ethxStader ETHx (ETHX) $ 2,727.83
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006893
  • starknetStarknet (STRK) $ 0.110958
  • usdbUSDB (USDB) $ 0.995156
  • dydx-chaindYdX (DYDX) $ 0.521772
  • movementMovement (MOVE) $ 0.147584
  • neoNEO (NEO) $ 5.42
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • compound-governance-tokenCompound (COMP) $ 40.35
  • elrond-erd-2MultiversX (EGLD) $ 13.33
  • conflux-tokenConflux (CFX) $ 0.073397
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,565.08
  • ecasheCash (XEC) $ 0.000018
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999989
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 107,659.00
  • eosEOS (EOS) $ 0.503582
  • aioz-networkAIOZ Network (AIOZ) $ 0.300129
  • build-onBUILDon (B) $ 0.351921
  • deepDeepBook (DEEP) $ 0.140976
  • axie-infinityAxie Infinity (AXS) $ 2.12
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,830.45
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.12
  • ether-fiEther.fi (ETHFI) $ 0.930681

DeFi vs Traditional Banks: The Battle for the Global Economy with Zero Entry Costs

0 17

DeFi vs Traditional Banks: The Battle for the Global Economy with Zero Entry Costs

Anton Bukov, co-founder of 1inch, a decentralized exchange, has explained that operating procedures in DeFi are much cheaper than those that traditional banks use. During Dutch Blockchain Week in Amsterdam, Bukov explained that verifying documents and setting up accounts for a user at a traditional bank can cost $100-300. In comparison, online banks incur only $20-30 per user. Alternatively, using decentralized financial platforms is as easy as having a smartphone and an internet connection.

According to Bukov, Defi can be used with little or no upfront cost. Since no equipment is involved and the system doesn’t require extended verification, transactions are convenient. Anyone who has internet can use it to send and receive payments easily. With its simplicity and low-cost structure, DeFi can serve more people than traditional banking because it can reach 1.4 billion unbanked people.

DeFi Unlocks Global Finance for the Unbanked

Onboarding traditional finance is expensive, which has prevented many from accessing it. Bukov said leaving the unbanked out of financial services makes sense as it does not offer better financial results. He noted that no one would invest such a large amount into them, knowing that he would never see those funds again.

Unlike with traditional banks, where the barrier to entry is high, DeFi allows people with less access to finance to join the global economy. Bukov mentioned that DeFi will enable users to handle real-life financial transactions with stablecoins like Tether (USDT). This will make things accessible that were never possible for them before. He stated:

“You can just get a phone, access to the internet, and you can exchange your chicken for USDT,”

DeFi Fuels Global Liquidity and Economic Growth

Bukov also pointed out that DeFi helps provide access to liquidity on a global scale. He believes cryptocurrency represents an independent economy, supported by billions of transactions carried out through decentralized systems. Liquidity in the financial sector makes it possible to try new strategies, channels for obtaining returns, and international businesses.

He pointed out that those countries making it easier for investors to access global liquidity are likely to take advantage of new economic changes. He suggested that more involvement in crypto can be similar to international trade, pointing out that countries generally do better as they participate more in global trade.

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