MakerDAO holds $3.15 billion
The rise in the price of ETH by $150 led to a sharp increase in funds frozen in the smart contract of the MakerDAO platform. The amount was $3.15 billion
According to DeFi Pulse, two credit organizations Aave and Compound, as well as the popular cryptocurrency exchange Uniswap, are also in the TOP-4 projects in terms of total blocked value (TVL).
The MakerDAO project was one of the first in the DeFi industry. Since 2014, it allows you to fix collateral on the Ethereum blockchain to generate DAI.
This function later became one of the foundations for the operation of the decentralized credit market. Therefore, it is not surprising that the market price of DAI jumped more than 20 times. The dynamics of the growth in the value of the token can be traced on the CoinGecko chart.
The total blocked value (abbreviation - TVL) of DeFi projects has increased 20 times since the first quarter of last year.