Consecutive monthly all-time highs during February and March of more than $250 million and $400 million respectively resulted in this. Overall, nearly 317,000 transactions have been generated across the lending platform.
In the past year, dYdX has originated well over $1 Billion in loans 💸🤑 pic.twitter.com/ZJynUQ7JXy — dYdX (@dydxprotocol) April 18, 2020
This is according to its tracking aggregator, LoanScan, which showed that the platform has delivered more than $1.1billion in loans over the past year.
The lending platform currently comprises the seventh-largest DeFi protocol with $22.7 million in locked assets according to DeFi Pulse. DYdX currently presents nearly 3% of all value locked in decentralized finance.
DYdX tweeted recently that its native market has produced more than $530 million in volume over seven months of operating:
In addition, dYdX native markets have done $534 Million in trade volume in the past 7 months 📈🚀 — dYdX (@dydxprotocol) April 18, 2020
Defi’s products continue to gain massive interest and its products will indeed continue to grow in the near future. The platform is experiencing a significant increase in the amount of loans borrowed on its exchange.
Source: Cointelegraph | Image: Pixabay