• bitcoinBitcoin (BTC) $ 104,669.00
  • ethereumEthereum (ETH) $ 2,526.63
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.17
  • bnbBNB (BNB) $ 645.02
  • solanaSolana (SOL) $ 146.95
  • usd-coinUSDC (USDC) $ 0.999800
  • tronTRON (TRX) $ 0.274712
  • dogecoinDogecoin (DOGE) $ 0.171224
  • staked-etherLido Staked Ether (STETH) $ 2,525.81
  • cardanoCardano (ADA) $ 0.602785
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 104,616.00
  • hyperliquidHyperliquid (HYPE) $ 36.81
  • wrapped-stethWrapped stETH (WSTETH) $ 3,047.16
  • bitcoin-cashBitcoin Cash (BCH) $ 496.12
  • suiSui (SUI) $ 2.83
  • chainlinkChainlink (LINK) $ 13.08
  • leo-tokenLEO Token (LEO) $ 8.99
  • stellarStellar (XLM) $ 0.249712
  • avalanche-2Avalanche (AVAX) $ 18.08
  • the-open-networkToncoin (TON) $ 2.98
  • usdsUSDS (USDS) $ 0.999767
  • whitebitWhiteBIT Coin (WBT) $ 49.33
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • wethWETH (WETH) $ 2,526.43
  • wrapped-eethWrapped eETH (WEETH) $ 2,703.23
  • litecoinLitecoin (LTC) $ 85.02
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • hedera-hashgraphHedera (HBAR) $ 0.147818
  • moneroMonero (XMR) $ 307.95
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • polkadotPolkadot (DOT) $ 3.55
  • bitget-tokenBitget Token (BGB) $ 4.29
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 104,628.00
  • uniswapUniswap (UNI) $ 7.70
  • pepePepe (PEPE) $ 0.000010
  • pi-networkPi Network (PI) $ 0.543474
  • aaveAave (AAVE) $ 255.73
  • daiDai (DAI) $ 0.999661
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • okbOKB (OKB) $ 52.83
  • bittensorBittensor (TAO) $ 351.03
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • crypto-com-chainCronos (CRO) $ 0.090961
  • aptosAptos (APT) $ 4.39
  • internet-computerInternet Computer (ICP) $ 5.10
  • nearNEAR Protocol (NEAR) $ 2.18
  • jito-staked-solJito Staked SOL (JITOSOL) $ 177.94
  • susdssUSDS (SUSDS) $ 1.06
  • ethereum-classicEthereum Classic (ETC) $ 16.74
  • ondo-financeOndo (ONDO) $ 0.770745
  • tokenize-xchangeTokenize Xchange (TKX) $ 29.34
  • usd1-wlfiUSD1 (USD1) $ 0.999871
  • mantleMantle (MNT) $ 0.633008
  • gatechain-tokenGate (GT) $ 15.76
  • fasttokenFasttoken (FTN) $ 4.43
  • vechainVeChain (VET) $ 0.021729
  • official-trumpOfficial Trump (TRUMP) $ 9.35
  • kaspaKaspa (KAS) $ 0.070298
  • cosmosCosmos Hub (ATOM) $ 4.04
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 104,394.00
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.682136
  • ethenaEthena (ENA) $ 0.283952
  • skySky (SKY) $ 0.079843
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.187334
  • render-tokenRender (RENDER) $ 3.18
  • filecoinFilecoin (FIL) $ 2.35
  • usdt0USDT0 (USDT0) $ 1.00
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,525.23
  • worldcoin-wldWorldcoin (WLD) $ 0.934524
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.38
  • arbitrumArbitrum (ARB) $ 0.302138
  • algorandAlgorand (ALGO) $ 0.169082
  • usdtbUSDtb (USDTB) $ 0.999553
  • quant-networkQuant (QNT) $ 98.79
  • kucoin-sharesKuCoin (KCS) $ 11.08
  • binance-staked-solBinance Staked SOL (BNSOL) $ 155.56
  • spx6900SPX6900 (SPX) $ 1.31
  • nexoNEXO (NEXO) $ 1.21
  • jupiter-exchange-solanaJupiter (JUP) $ 0.406154
  • flare-networksFlare (FLR) $ 0.017703
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,877.20
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,644.67
  • injective-protocolInjective (INJ) $ 11.42
  • celestiaCelestia (TIA) $ 1.64
  • bonkBonk (BONK) $ 0.000014
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.67
  • kaiaKaia (KAIA) $ 0.183904
  • sei-networkSei (SEI) $ 0.193130
  • fartcoinFartcoin (FARTCOIN) $ 1.03
  • sonic-3Sonic (S) $ 0.321893
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999979
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999563
  • optimismOptimism (OP) $ 0.565906
  • newton-projectAB (AB) $ 0.015127
  • blockstackStacks (STX) $ 0.628314
  • paypal-usdPayPal USD (PYUSD) $ 0.999444
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,703.51
  • xdce-crowd-saleXDC Network (XDC) $ 0.057705
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,647.92
  • story-2Story (IP) $ 3.07
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 104,476.00
  • wbnbWrapped BNB (WBNB) $ 644.62
  • pax-goldPAX Gold (PAXG) $ 3,390.05
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 104,627.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,659.66
  • tether-goldTether Gold (XAUT) $ 3,372.34
  • the-graphThe Graph (GRT) $ 0.083735
  • clbtcclBTC (CLBTC) $ 105,560.00
  • vaultaVaulta (A) $ 0.509638
  • curve-dao-tokenCurve DAO (CRV) $ 0.587002
  • dogwifcoindogwifhat (WIF) $ 0.791681
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • jito-governance-tokenJito (JTO) $ 2.30
  • immutable-xImmutable (IMX) $ 0.407004
  • aerodrome-financeAerodrome Finance (AERO) $ 0.896262
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 164.22
  • msolMarinade Staked SOL (MSOL) $ 191.32
  • flokiFLOKI (FLOKI) $ 0.000075
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,728.65
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.21
  • ousgOUSG (OUSG) $ 111.48
  • lido-daoLido DAO (LDO) $ 0.777139
  • theta-tokenTheta Network (THETA) $ 0.682443
  • zcashZcash (ZEC) $ 41.65
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999004
  • ethereum-name-serviceEthereum Name Service (ENS) $ 19.81
  • bitcoin-svBitcoin SV (BSV) $ 32.32
  • pendlePendle (PENDLE) $ 3.93
  • galaGALA (GALA) $ 0.014206
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • iotaIOTA (IOTA) $ 0.164457
  • the-sandboxThe Sandbox (SAND) $ 0.252408
  • usual-usdUsual USD (USD0) $ 0.997599
  • jasmycoinJasmyCoin (JASMY) $ 0.012484
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 104,273.00
  • walrus-2Walrus (WAL) $ 0.438045
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.009329
  • raydiumRaydium (RAY) $ 2.19
  • pyth-networkPyth Network (PYTH) $ 0.098399
  • falcon-financeFalcon USD (USDF) $ 0.999841
  • tezosTezos (XTZ) $ 0.533302
  • super-oethSuper OETH (SUPEROETH) $ 2,526.00
  • coredaoorgCore (CORE) $ 0.551000
  • tbtctBTC (TBTC) $ 104,402.00
  • flowFlow (FLOW) $ 0.343474
  • saros-financeSaros (SAROS) $ 0.206723
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,525.75
  • wrapped-hypeWrapped HYPE (WHYPE) $ 36.87
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,702.14
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,628.69
  • syrupMaple Finance (SYRUP) $ 0.477626
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 104,761.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,525.56
  • apecoinApeCoin (APE) $ 0.630906
  • true-usdTrueUSD (TUSD) $ 0.998007
  • thorchainTHORChain (RUNE) $ 1.40
  • dexeDeXe (DEXE) $ 8.58
  • decentralandDecentraland (MANA) $ 0.253813
  • compound-governance-tokenCompound (COMP) $ 51.74
  • chain-2Onyxcoin (XCN) $ 0.013717
  • heliumHelium (HNT) $ 2.46
  • kavaKava (KAVA) $ 0.405547
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.171086
  • staked-hypeStaked HYPE (STHYPE) $ 36.85
  • beldexBeldex (BDX) $ 0.060667
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999800
  • based-brettBrett (BRETT) $ 0.042549
  • usddUSDD (USDD) $ 1.00
  • ripple-usdRipple USD (RLUSD) $ 0.999831
  • apenftAPENFT (NFT) $ 0.00000042
  • mimblewimblecoinMimbleWimbleCoin (MWC) $ 37.48
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,524.14
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • usdbUSDB (USDB) $ 1.01
  • dydx-chaindYdX (DYDX) $ 0.508910
  • morphoMorpho (MORPHO) $ 1.29
  • ketKet (KET) $ 0.396065
  • neoNEO (NEO) $ 5.58
  • ecasheCash (XEC) $ 0.000020
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • elrond-erd-2MultiversX (EGLD) $ 13.66
  • grassGrass (GRASS) $ 1.33
  • stader-ethxStader ETHx (ETHX) $ 2,674.99
  • starknetStarknet (STRK) $ 0.112048
  • ether-fiEther.fi (ETHFI) $ 1.00
  • aioz-networkAIOZ Network (AIOZ) $ 0.317213
  • telcoinTelcoin (TEL) $ 0.004086
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006415
  • eigenlayerEigenlayer (EIGEN) $ 1.20
  • conflux-tokenConflux (CFX) $ 0.072777
  • eosEOS (EOS) $ 0.509899
  • axelarAxelar (AXL) $ 0.372094
  • axie-infinityAxie Infinity (AXS) $ 2.24
  • arweaveArweave (AR) $ 5.40
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,785.43
  • zebec-networkZebec Network (ZBCN) $ 0.004070
  • movementMovement (MOVE) $ 0.131574

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

0 12

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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