As DeFi Pulse announced recently, today decentralised finance has reached a value of 3 million ETH used on the Ethereum blockchain.
🚀 We did it folks! 3M TVL(ETH) in #DeFi 🚀 pic.twitter.com/L8XGSu9Eg2
— DeFi Pulse (@defipulse) October 14, 2019
From the graph it is clear that the use of decentralised finance (DeFi) has been increasing steadily and inexorably: in recent months alone, from August to October 2019, it recorded and locked a value of just under 1 million ETH, a very important milestone for this sector.
The lion’s share of this DeFi ranking is taken by Ethereum (ETH) where most of the projects, led by Maker, carry on the banner of decentralised finance.
If, however, the bitcoin blockchain (BTC) is considered, there is an opposite trend: in the same period of time (90 days), investments have decreased and, in the first place, there’s Lightning Network (LN) with a volume of 820 BTC.
Finally, when looking at the total DAI locked in this sector, it amounts to 21.5 million. Towards July alone, it recorded a minimum of about 7.5 million, so the result tripled in just 90 days.
When analysing the positive trend of the sector, it is clear that it is only a matter of time and 9 zero figures are not so far away, precisely because the potential of DeFi can be applied in different sectors such as lending, payments, derivatives and assets of various kinds.
It should be remembered that it is only since 2017 that these types of products and services exist, so in just 2 years DeFi has recorded ever-greater growth with relatively small declines, only to rise again.
More and more blockchain companies, in fact, are trying to take advantage of the growing interest in DeFi, including Eidoo, which has recently integrated Compound and DAI so as to allow users earn up to 8% interest.
