Amount of Ether Locked in DeFi Is Growing Despite Price Slump
Adrian Zmudzinski's original article for cointelegraph.com reduced by 76%
The number of Ether locked in decentralized finance applications reached an all-time high of 2.7 million, according to DeFi monitoring resource DeFiPulse, and has been steadily growing since the end of June. The one-year chart of the dollar value of crypto assets locked in DeFi applications shows some correlation to the Ether price, but is not entirely dependent on it. When the Ether price collapsed after reaching its peak in July, the value of crypto assets locked in DeFi apps was only temporarily affected.
After falling with the Ether price in July, the value of assets locked in DeFi apps resumed its growth while the coin's price continued to mostly fall. While the correlation between the two assets sharply decreased after August, the Ether price still affects the value of funds locked when looking at shorter timeframes. Last week, the total value of assets locked in such apps decreased as the Ether price fell.
The total value of crypto assets locked in DeFi applications.
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