Ethereum
Locked in Decentralized Finance Hits New All-Time High Above 3 Million Eth
Data from decentralized finance
tracking platform DeFi Pulse shows that a total of 3
million ether are now locked in the DeFi space. The amount of locked ETH has
been growing exponentially over the past few months, notably going from 2.68
million ETH in December 2019 to over 3.1 million at the start of 2020.
Most of the value locked in the
decentralized finance space is allocated to Maker (MKR) and its products,
representing a total of $385 million locked. Maker supports the Dai
stablecoin, letting users lock ETH and other cryptoasset as collateral to
generate Dai as debt against it and earn interest on their Dai holdings via
the Dai Savings Rate (DSR).
Other popular applications in
the space include decentralized exchanges, like Uniswap and DDEX, and
applications letting users earn interest on their cryptocurrency holdings,
like Compound and dYdX.
