DeFi Blocked Funds Exceeded $5 Billion

Kataryna Kovtun August 14, 2020

BitXmi.Com

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The volume of funds blocked in the DeFi sector exceeded $5 billion.

The decentralized finance sector has set another record, with funds locked in protocols exceeding $ 5 billion for the first time, according to DeFiPulse.

During the day, this figure increased by 11.7%, reaching $ 5.24 billion. 28.29% of the market falls on MakerDAO.

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*Source: DeFiPulse

The Aave Protocol has increased the volume of blocked funds by 34% in the last 24 hours, bringing this figure to $ 734 million, and came into third place.

The growth leaders in the sector are yEarn Finance and Curve, which added 171% and 149% per day, respectively.

Amid continued growth in the DeFi sector, Ethereum’s average network fees hit a new all-time high on Thursday, August 13th. The current figure is $ 6.4, according to Blockchair. Read more here…

Latest DeFi Developments

There have been several high-profile developments in the DeFi space in recent days. Yesterday, the price of the Yam pilot project token plummeted by 99% in a day after a failed attempt to fix a critical vulnerability. Before that, users blocked $ 600 million in assets in the protocol.

The day before, an anonymous developer provoked an unplanned launch of contracts for managing the Curve protocol, after which he distributed his CRV tokens before their official announcement. To do this, he used the source code of the project on GitHub.

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