DeFi’s Value Climbs as Locked in Value Becomes $9 billion

The price is not tired of climbing.

The locked in value of DeFi has recorded something new. Because of the massive adoption of DeFi projects and new ones coming on board in the last few months, the locked in value recently reached $9 billion.

At the moment, Aave is still leading other DeFi projects as it has a total locked value of $1.71 billion. MakerDAO is at the second place while Balancer is third at $1.36 billion. Others are Curve Finance with $1.26 billion, yearn.finance having $953.6 million, and Synthetix at $871 million. The YFI token from Yearn increased by 75% recently such that its market cap moved sharply to settle around $1 billion.

Although many DeFi projects have been introduced, interest in it has not died. The truth is that DeFi has made a better impression than Bitcoin in 2020. Tokens created from DeFi have done marvelously well and one of them is LINK from Chainlink. Several exchanges now know that DeFi is good so they have decided to support some on their trading platforms.

Nevertheless, DeFi still has some challenges and they include security and accessibility. If these are overcome, there will be more massive adoption in the nearest future.

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