Insurance segment in Defi is an interesting one.
These products help to cover the risks in the multitude of Projects in Crypto. Smart contracts make Defi work and at the same time they have vulnerabilities. Hacks and exploits are a worry and you hear it happening by the day. This is where insurance protocols enter.
By paying a premium, Insurance products mitigate the risk exposure of your funds.
Some of the players in this segment are
1. Nexus Mutual (Token -$NXM)
Nexus Mutual is the market leader among Defi Insurers.
Their current price is $78.6. $NXM is also one of the coins that have held firm while other cryptos have been dumped 80% and lower in price.
Their price has only dropped 50% from ATH.
2. Bridge Mutual
Token $BMI. It's current price is $0.68. It's all time high is $5.46, currently down 87%. The Max supply is 160 Million and circulating supply is 52 Million tokens.
3. Cover Protocol
- Token $COVER. It's current price is $212. It's all time high is $1687, currently down 87%. Max supply is 82000 and circulating supply is 77784.
4. Nsure Network - Token $NSURE. Maximum supply is 100 Million and current circulating supply is 17.57 Million. It's All time high is $3.42. Current price is $0.32, down 90%.
Overall, Insurance has been one of the sectors that didn't pump as much as others in the recent Bullrun.
However, smart contracts are inherently risky meaning Investors have to be aware of minimising their risks.
Defi's growth will mean Insurance players adding value as time goes by. I will keep a close look at the development in Insurance protocols.
