The total amount of Ethereum's DeFi ecological lock-up exceeded 2 billion US dollars, a record high

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc), Compilation: Overnight Porridge, released with authorization.

Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

Babbitt Information (ID: bitcoin8btc)

, Compilation: Overnight Porridge, released with authorization.

According to data from defipulse, the total lock-up value of Ethereum decentralized finance (DeFi) projects has exceeded 2 billion US dollars today, setting a new high in history.

In addition, the locked value of BTC and DAI has also hit a record high. Data shows that the locked Bitcoin in the Ethereum Defi project has reached 13,242 BTC, and the DAI has reached 126.9 million. In addition, the locked amount of ETH is also close to Peak data in January this year.

In addition, according to the statistics of defimarketcap, the current size of the Defi market has reached 73.97 US dollars.

In just one month, the total lock-up value of the Ethereum defi ecosystem has increased from US$1 billion to US$2 billion. What happened?

If we look at the price performance of ETH and DeFi ERC20 tokens so far in 2020, you will find that ETH, the second largest cryptocurrency, has almost negligible gains compared to the latter.

As shared by analyst Ceteris Paribus, Auctus (AUC) leads the defi list with a return of more than 6400%, followed by Ampleforth (AMPL) with a year-to-date return of 1600%. Of course, these projects are very niche of.

What most people can observe is the wave of liquidity mining started by projects like Compound and Balancer, also known as yield farming. We have also seen the crazy rise of various DEX tokens, such as KNC, LRC, and BNT. , Lending tokens like LEND and COMP have also experienced madness.

While some are celebrating the growth of this market and calling it a revolution, many have pointed to its limitations.

For example, Obi Nwosu, CEO of UK-based bitcoin exchange CoinFloor, commented:

“DeFi is definitely fractional reserve banking, it will never be a new financial revolution, it will inevitably repeat the same mistakes, it will undoubtedly fail.”

Interestingly, the current DAI deposits in Compound have reached $640 million, compared to the current total of only 180 million DAI, which highlights the madness in this space.