DeFi Tops $7B

By Abhimanyu Krishnan | News | 27 Aug 2020

The Total Value Locked in (TVL) in the DeFi space has crossed $7 billion on August 27, showing no signs of stopping as several new protocols, data aggregators and yield farming platforms emerge.

  • Already experiencing healthy growth in early 2020, the DeFi space began an even stronger uptrend around the middle of June, coinciding with the launch of the COMP token 
  • Aave (LEND), Maker (MKR) and Curve Finance (CRV) are the only DeFi entities with more than $1 billion locked in
  • Aave has the most value locked in at $1.51 billion, while Maker and Curve Finance come second and third with $1.41 and $1.22 billion respectively
  • Aave’s TVL has tripled since the start of August
  • A number of DeFi entities have also completed funding rounds, including DIA and Bella Protocol
  • Some industry insiders, like Binance’s Changpeng Zhao, have levied some criticized against the DeFi space, saying that only a few would survive and thrive

Related Reading:

  • 1nch DEX raises $2.8 million
  • DeFi options platform Opyn raises $2.1 million

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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