Total Value of Crypto Coins Reached $ 11,000,000,000

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According to the DeFi analytics platform DeFi Pulse, the total value locked in decentralized finance (DeFi) reached $ 11 billion.

Major Attack in DeFi

DeFi continues to be one of the fastest growing industries in the crypto industry. In about a month, the total value of crypto assets locked in DeFi was $ 7.34 billion on August 28, and has increased by almost 50%, approaching $ 11 billion today.

Considering the metrics based on TVL; Uniswap (UNI), Maker (MKR) and Aave (LEND) stand out as the top three DeFi protocols in this sense. DeFi Pulse, the analytical center of DeFi, said that more than $ 2 billion of cryptocurrency assets were locked to UNI, followed by the leading DeFi protocol with $ 1.95 billion and $ 1.49 billion, respectively, locked in Maker and Aave; Thus, it reveals that the total value locked in decentralized finance has gone up significantly.

Solution to Ethereum Problem in DeFi

As it is known, all three DeFi platforms work on the Ethereum blockchain. In fact, this situation brings with it the scaling problem of Ethereum, and ecosystems such as Aave and Tron appear as competitors to Ethereum to be an alternative to this disadvantage.

Analytical platform called DeFi Pulse; It follows the TVL of 42 DeFi protocols with use cases such as lending, derivatives, decentralized exchanges (DEXs), assets and payments.

As can be easily said, DeFi has grown exponentially in the last two years. In 2018, the emerging industry was worth $ 180 million. As of September 2019, that number had jumped to $ 1.22 billion.

See Also
DeFi Market Expands to Unseen Levels!

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