Defi Reaches $4.5 Billion, Maker Nears $1.4 Billion – Trustnodes

Defi Reaches $4.5 Billion, Maker Nears $1.4 Billion

0

Defi locked assets, August 2020

There are now $4.47 billion worth of crypto assets locked in prominent decentralized finance (defi) dapps running on ethereum.

That’s an increase of some $500 million within one week, with it increasing by half a billion the previous week as well.

MakerDAO in particular has seen a huge jump to $1.34 billion currently after it just about touched $1.4 billion.

Top defi dapps, August 2020
Top defi dapps, August 2020

There isn’t much change here in regards to listed dapps, but there has been a significant change on the amount locked with Compound too not far off from $1 billion.

Maker however has about $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, seeing a huge rise from $128 million in just the past month.

Dai marketcap, August 2020
Dai marketcap, August 2020

Usually 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.

Comments