Decentralized finance, or DeFi, continues to grow exponentially, with the total value locked down in DeFi markets to $ 4 billion, according to data from DefiPulse.com's main industry website.
DeFi Markets refers to the use of blockchain, digital assets and smart contracts in financial services such as lending and lending to provide financial services without the need for centralized governance.
The new threshold means that more than $ 4 billion is now invested in smart contracts, protocols, decentralized applications or Ethereum-based DApps. As of publication time, the largest DeFi provider, the stable MakerDAO DAI, is responsible for just over 30% of the $ 1.23 billion DeFi market.
According to Cointelegraph, Ethereum recently faced an expectation of Ethereum 2.0 and the optimism surrounding DeFi.
According to Coin360, Ether is trading around $ 356 at the time of publishing, up over 7% in the past 24 hours. As mentioned earlier, DeFi apps have some correlation with ether price, but they don't depend entirely on it.
Earlier this week, Misari cryptocurrency market analysis company reported that the overall activation of the DeFi segment corresponds to only 1.5% of the total market value of cryptocurrencies. This is now about $ 332 billion.