Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Goodcat49 on August 01, 2020, 10:14:39 AM
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A total of $4 billion in value is now locked in the DeFi markets, according to DefiPulse.com.
The Decentralized Finance, or DeFi, industry continues its massive growth trajectory as the total value locked in the DeFi markets hits $4B, according to data from major industry website DefiPulse.com.
DeFi markets refer to the use of blockchain, digital assets, and smart contracts in financial services like credit and lending to provide financial services without a need for a centralized authority.
The new threshold means that a total of over $4 billion is now locked across smart contracts, protocols, and decentralized applications, or DApps, built on Ethereum. As of press time, the largest DeFi provider, MakerDAO’s DAI stablecoin, is responsible for just over 30% of DeFi markets, with $1.23 billion locked.
https://cointelegraph.com/news/total-value-locked-in-defi-hits-new-ath-of-4b
(https://images.cointelegraph.com/images/717_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zODkwOTEwYzczNTFjNGRjYWEyMDlmMDMxMzM2N2E1MS5qcGc=.jpg)
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I never though that it can be DeFi that is going to inject so much new blood into the world of cryptocurrency. With billions of dollars now in different DeFi platforms and the tremendous growth in value of these platforms, it can be safe to say that for now DeFi is the real deal. Hope this will not be another flash-in-the-pan type of thing.
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DeFi projects provide new opportunities for cryptocurrency, namely loan services, lending, deposit rates based on smart contracts, without the involvement of a third party, which usually are banks.
It is difficult to say how this growth in popularity will end.