Defi Reaches $4.5 Billion Mark, As Maker Nears $1.4 Billion

DeFI (Courtesy: trustnodes)
DeFI (Courtesy: trustnodes)

At least $4.47 billion worth of crypto assets are now locked in prominent decentralized finance (defi) dapps running on ethereum. That records an increase by $500 million in one week, with a consistency in increase as it had registered a growth by the same amount last week as well.

The biggest jump was recorded by MakerDAO in particular as it reached to $1.34 billion currently after it just about touched $1.4 billion. However, there was not as much changes in the other listed dapps.

There has, however, been a significant change on the amount locked with Compound too not far off from $1 billion. Maker has now seen $1 billion locked in just eth with some 2.5 million eth on the smart contract now.

Wow, dai is now close to $400 million in market cap as it has grown/seen a rise from $128 million in just the past month.

In the usual circumstances, it has been seen that people put 3x collateral on dai, so making it about $1.2 billion with some clearly putting more collateral.

The value itself has been fairly stable, with this now becoming sufficiently liquid to significantly perform proper functions like as a trading pair on decentralized or centralized exchanges.

Arguably there should be a euro token as well because that is holding better value nowadays, but after two years of running largely without problems, the concept is now seemingly taking off.