DeFi projects gained speed in the past few months as locked in value reaches $9.02 billion.
It has been reported that Aave continues to be the largest DeFi project, with $1.71 billion locked, followed by MakerDAO with $1.43 billion, Balancer at $1.36 billion, Curve Finance at $1.26 billion, yearn.finance at $953.6 million, and Synthetix with $871 million.
However, Yearn’s YFI token surged 75% in the past day, with its price hitting $38,883 on Binance, as the price moved its market capitalization to $1 billion.
As per the report, excitement for DeFi has not waned even with the proliferation of DeFi projects.
DeFi tokens have outperformed Bitcoin this year, as tokens related to DeFi infrastructure, like Chainlink’s LINK, have also surged.
DeFi locked in value hits $9 billion https://t.co/7aoCaYs3rj — Cointelegraph (@Cointelegraph) August 30, 2020
Exchanges have also listed many of the more popular DeFi tokens.
Thus, industry players still see some issues the DeFi community needs to address to encourage mainstream adoption, despite it’s continued rise, such as security and ease of use.
Source: Cointelegraph | Image: Genesis Block