DeFi news: new record for USDC loans
Defi

DeFi news: new record for USDC loans

By Marco Cavicchioli - 4 Dec 2019

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Good news from DeFi: a new record has been set today. 

As shown in a screenshot published on DeFi Pulse’s Twitter profile, this morning new loans were issued for over 2.62 million USDC, bringing the total to the new historical record of 22.5 million USDC.  

This new upward trend in USDC lending began on November 6th, when the total rose from just under 18 million to 18.3 million. 

On November 12th, the new historical record of 21.5 million was recorded, which was beaten on November 22nd, when total lending exceeded USD 21.8 million. 

Today, the new historic high was reached

The new record, however, only concerns loans in USDC, since the total, which also includes those in DAI, ETH, WBTC and other tokens, is now lower than the record reached on November 21st. 

In fact, expressed in USD, the total amount of loans issued on DeFi’s platforms to date is 149 million, while on November 21st it reached a peak of 154 million

Indeed, ETH loans in particular are decreasing, given that to date they amount to 1.8 million dollars, while at the end of October they were over 4 million. 

DAI loans are also below the record level of almost USD 130 million recorded on November 20th. 

Moreover, with regard to record loans in USDC, the dominance is attributable to Compound, with 75%, while for the total the dominance remains with Maker, with 73%.  

On the topic of DeFi and the new records that this sector is marking, Alberto De Luigi explained

“The DeFi market is a diverse ecosystem that also includes security tokens and stablecoins whose value remains anchored to the underlying, so an increase in market cap does not necessarily reflect an increase in asset prices. However, if there is a sector that in the short term can go against the trend of Bitcoin movements and the crypto market in general, it is DeFi, because a traditional financial asset that is tokenised does not lose the characteristics of an old financial instrument, it simply acquires an innovative accounting and ownership transfer system”.

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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