Ethereum value in DeFi-applications exceeded $ 1 billion

The cost of blocked funds on smart contracts of decentralized finance applications (DeFi) exceeded $1 billion.

Data: DeFi Pulse

On December 31, 2019, the indicator was at around $ 670 million, so the increase since the beginning of the year was about 50%.

Most popular decentralizedMakerDAO is still the application - its dominance index has almost reached 60%. Recently, project participants voted to increase the Dai Savings Rate to 8.75% in annual terms.

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For second and third places compete with each otherSynthetix synthetic asset platform with native SNX token and Compound landing project. It is noteworthy that in the ranking from DeFi Pulse, the second level protocol Lightning Network, associated with the Bitcoin ecosystem, is also presented.

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Non-custodial Ethereum exchanges, including Uniswap, Bancor, and Kyber, also show fairly solid growth. According to Dune Analytics, over the past seven days, the turnover of such trading floors has grown by 30%.

Some market analysts are sure that the growth of the DeFi sector is mainly due to the increase in the price of Ethereum, which has risen in price by 20.5% over the past seven days.

Earlier, ForkLog published material on why the DeFi sphere has a still insignificant impact on the market value of ether.