Market continues to fluctuate, DeFi locked assets reach an all-time high

Decentralized Finance (DeFi) has risen to prominence this year and shown impressive performance. As of now, nearly three million Ether are locked in DeFi. The locked assets have reached an all-time high, surpassing the September peak of 2.77 million Ether.

3 Million Ether Locked in DeFi

As the crypto market continues to expand globally, the total value locked in DeFi has reached a historic high, with nearly three million Ether locked in various DeFi applications.

According to DeFi Pulse, Maker is the largest participant in the Ethereum DeFi market, with 1.6 million Ether locked.

Maker is a decentralized autonomous organization that aims to provide users with the ability to leverage their Ether assets and generate DAI. According to ABM, DAI is currently the fifth-largest stablecoin in the crypto market.

In the past 24 hours, Maker has increased its locked Ether by 1,600, a 0.1% increase. Maker's dominance in the DeFi market stands at 52.64%.

Compound and Synthetix rank second and third in the DeFi market, with 610,000 and 320,000 Ether locked, respectively.

Other platforms include InstaDApp, dYdX, Uniswap, Nuo Network, Lightning Network, Bancor, WBTC, Kyber, Set Protocol, and other DeFi applications.

According to a report, in January 2019, there were approximately 2.056 million Ether locked in the DeFi market. This represents a growth of 68.53% in the DeFi market.

Even in June, the locked Ether was only 2.053 million. Over the past few months, locked assets have gradually increased to reach 3 million Ether, equivalent to $552 million.

Ethereum is the second-largest project by market capitalization in the crypto market. According to data platform CoinMarketCap, its current market capitalization is $19.99 billion, with a price of $184.84.

Ether currently accounts for 8.87% of the market capitalization, while Bitcoin is at 66.41%. In fact, in 2017, Ether's market share reached 31%, with Bitcoin at 39%, making it Ethereum's closest year to Bitcoin.

Despite Ethereum's evident use in the DeFi market, its price continues to struggle, with the team working on significant updates for Ethereum this year.

Related Reading

• Vitalik Buterin himself states that PoS will make Ethereum more secure than BTC
• Want a high salary? In Canada, the blockchain industry trend analysis has an average annual salary exceeding 2 million

Join now to get the most complete information on financial technology, blockchain news, and industry examples!