Ethereum based decentralized finance dapps near $2 billion in assets under management! Dapps near $2 billion as DeFi’s grow in popularity.
Compound has more assets than the whole DeFi space had three months ago. Same goes for Maker.
Synthetix has increased by more than 3x while Balancer, new to the rankings, already has close to $150 million under management.
wBTC, a tokenized bitcoin, has seen a big jump to $82 million dollars worth.
wBTC is slowly becoming a liquid market with access to DeFi, an alternative to holding Bitcoin. wBTC does suffer from risks from extra hacking in the smart contract. However, many are willing to take the risks associated to grab free tokens that are given away by these Dapps.
Similar to how markets act during altcoin and bitcoin seasons, we might see DeFi’s party while Ethereum swings sideways until the party migrates back to Ethereum.
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