Exponential growth for DAI locked in DeFi tools
Exponential growth for DAI locked in DeFi tools
Defi

Exponential growth for DAI locked in DeFi tools

By Marco Cavicchioli - 27 Jan 2020

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The DAI locked in DeFi tools have exceeded 50 million: they are ten times greater than they were even a year ago. 

In fact, until May 2019 they had always been more or less around 5 million, but since June a real exponential growth has started, according to defipulse.com data. 

In July they rose to 10 million, in September they exceeded 20 million, and from the end of November, in less than three months, they exceeded 50 million, with a peak of 57 million on January 18th. 

Now they are at 53 million, but the growth trend seems to be still in progress, to the extent that there are already those who hypothesize that sooner or later they could reach one billion. 

But DAI is not the only one to grow: also the USD, ETH and BTC stuck in DeFi are more or less around the historical highs

As far as the volume in US dollars is concerned, 800 million has been exceeded, while for ETH the figure of 3 million has been surpassed (i.e. more than 500 million dollars). With regard to BTC, the figure is still only 1,500 (about 13 million dollars), but it must be kept in mind that DeFi instruments mostly run on the Ethereum network, so it is more than plausible that users prefer to use ETH rather than BTC. 

In addition, the ranking of the 15 DeFi projects in terms of development activities in January 2020 has also been published, with Augur taking first place. 

Second is Melon, followed by MetaMask. Maker is only fourth. 

These data show not only that DeFi is growing, but that it is growing very quickly, also thanks to projects that go beyond the three that dominate this sector for now, namely Maker, Synthetix and Compound. 

Moreover, the Defipulse.com charts seem to show a growth trend that doesn’t hint at stopping for the moment, perhaps partly due to the fact that it’s only a few months ago that this real growth started, especially as far as DAI’s exponential growth is concerned. 

This does not mean that it is certainly destined to continue over time, simply that for now there is still no indication of it ending. 

 

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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