RATE Group | Ethereum-based DeFi expands 130% in a year
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Ethereum-based DeFi expands 130% in a year

11 Jan Ethereum-based DeFi expands 130% in a year

Posted at 02:58h in Ethereum News by

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  • Around $385 million (2.4 million ETH) is presently locked in MakerDAO.
  • Bitcoin’s Lightning Network, with $7.2 million locked up, represents the largest decentralized payments platform in the industry. 

About this time last year, there was $305.95 million worth of Ether (ETH) and other digital assets locked up in decentralized financial applications. At present, the figure has crossed over $700 million, according to DeFi Pulse, a service tracking the growth of the sector. 

MakerDAO project is by far the most popular DeFi application. Around $385 million (2.4 million ETH) is presently locked in the Ethereum-based decentralized credit platform. Though this is way less than the June 2019 all-time high of $505 million, Maker has never been this popular- in terms of actual Ether committed to the platform. Presently, there is 2.415 million ETH locked up in the DeFi app. The platform accounts for 55.41% of the entire decentralized financial sector.

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