Ethereum value in DeFi-applications exceeded $ 1 billion



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Ethereum value in DeFi-applications exceeded $ 1 billion

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

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

MakerDAO remains the most popular decentralized application – its dominance index has almost reached 60%. Recently, project participants voted to increase the Dai Savings Rate to 8.75% in annual terms.

Maker Protocol update:

Executive Vote passed:
– Dai Savings Rate ⬆️ from 7.75% to 8.75%
– ETH and BAT Stability Fees ⬆️ from 8% to 9%
– Sai Stability Fee ⬆️ from 9% to 10%
– Sai ETH Debt Ceiling ⬇️ from 45 million to 30 million

The Synthetix platform of synthetic assets with the native SNX token and the Compound landing project compete for second and third places.

It is noteworthy that in the ranking from DeFi Pulse, the second level protocol Lightning Network, associated with the Bitcoin ecosystem, is also presented.

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

Ethereum value in DeFi-applications exceeded $ 1 billion



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