All Time High: 2.4 Million ETH is Now Locked in DeFi, DAI Tops $100 Million

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Ethereum in DeFi reaches all time high, Nov 2019As can be seen above defi locked eth has surpassed the previous high of ◊2.33 million reached on April 11 when a mini-bull run began. The amount of ethereum locked in decentralized financial applications, dubbed as DeFi (for defiance?), has reached an all time high of 2.417 million eth. While for the top defi platform in amounts, MakerDAO’s dai, some $340 million worth of eth is locked. Ethereum price, Nov 2019There’s a clear correlation here up to July, but not further. Synthetix DeFi, Nov 2019Synthetix is sort of like CME futures, but through smart contracts and Oracles.

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The amount of ethereum locked in decentralized financial applications, dubbed as DeFi (for defiance?), has reached an all time high of 2.417 million eth.

The dollar amount is near the all time high of $685 million, currently standing at $650 million.

Some of it is in bitcoin, around 1,400 BTC worth $13 million for the Lightning Network and the wrapped bitcoin token, but the vast majority is in eth and ethereum based tokens.

Ethereum in DeFi reaches all time high, Nov 2019

As can be seen above defi locked eth has surpassed the previous high of ◊2.33 million reached on April 11 when a mini-bull run began.

The amount of defi eth then turned downwards as price fell in July, but since then it has been gradually rising while price has been sort of sidewaying.

Ethereum price, Nov 2019

There’s a clear correlation here up to July, but not further. That makes it a bit puzzling as arguably you’d expect movement.

That’s because defi is sort of magic...

Read the full article @ TrustNodes