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Felicia Tan
June 2 21:00

Price of Ethereum in DeFi-applications has risen back to $1 billion

The value of blocked funds on smart contracts of decentralized finance applications (DeFi) has almost reached the mark of US$1 billion.
On March 18, the amount of funds blocked on smart contracts of DeFi applications reached the bottom at US$538. Then the indicator showed a V-shaped reversal.
As before, this segment is dominated by MakerDAO, which accounts for 55% of the DeFi applications market. It is followed by Synthetix, a synthetic asset platform, and Compound, a leasing service. Aave project is gaining popularity, which recently added Uniswap v1 liquidity tokens as collateral.
The segment of decentralized exchanges (DEX), which has much in common with the sphere of DeFi, is also growing. According to Dune Analytics, in the last seven days the trading volume on DEX has increased by 15%.
In this segment, Uniswap is the leader in terms of trading volume, recently updated to version 2. Its closest competitors are known for its bitcoin swaps dYdX and once leading Kyber.
Despite the strong growth of the segment, DEX is still far behind decentralized exchanges in terms of trading volume. In particular, the daily turnover of platforms accounted for by Dune Analytics (US$27.2 mn) is only 3.39% of the total trading volume of the platforms from Bitwise rating (US$802.5 mn).