All Time High: 2.4 Million ETH is Now Locked in DeFi, DAI Tops $100 Million

dai ath nov 7 2019

The amount of ethereum locked in decentralized financial applications, dubbed as DeFi (for defiance?), has reached an all time high of 2.417 million eth. The dollar amount is near the all time high of $685 million, currently standing at $650 million. Some of it is in bitcoin, around 1,400 BTC worth $13 million for the Lightning Network and the wrapped bitcoin token, but the vast majority is in eth and ethereum based tokens. As can be seen above defi locked eth has surpassed the previous high of ◊2.33 million reached on April 11 when a mini-bull run began. The amount of defi eth then turned downwards as price fell in July, but since then it has been gradually rising while price has been sort of sidewaying. There’s a clear correlation here up to July, but not further. That makes it a bit puzzling as arguably you’d expect movement. That’s because…

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