Decentralized Finance’s (DeFi) impressive success run hasn’t lost any steam yet. In fact, news within the sector just keeps on giving, and DeFi wouldn’t have it any other way. As of right now, the total locked value within DeFi has surpassed the $9 billion mark as its projects are continually attracting massive interests and traction for several months now.
Notably, its tokens have also successfully outperformed the crypto giant Bitcoin (BTC) this 2020. Investors and crypto exchanges are now looking into DeFi tokens more than ever, as evidenced by the sustained surge in interest of the sector’s well-known tokens such as Chainlink’s LINK.
As per the latest data record of DeFi Pulse, Aave has now overtaken MakerDAO as the largest project housed within the sector. The total locked value within Aave now sits at $1.55 billion, while Maker has over $1.58 billion. Immediately following the two is Uniswap ($1.29B), Curve Finance ($1.13B), Synthetix ($878M), and then yearn.finance ($776). It is also worth noting that the trends for some of the DeFi projects mentioned are still on the rise, meaning that these figures might just become more impressive in the passing days.
With all that being said, industry experts are still warning the public about the issues that still plague DeFi despite its monumental run. This includes mainstream adoption, its accessibility, and overall security. How the DeFi community would address these issues is yet to be observed, but the recent months have indeed been a massive win for the sector altogether.