Decentralized financial markets (DeFi) have made a remarkable recovery since the mid-March COVID-19 crash. So much so, that the total locked value has again surpassed $1 billion.
The DeFi ecosystem took a big hit three months ago when the Ethereum price crashed by 50%, wiping out a considerable amount of locked-up crypto collateral. The all-time high for locked-up value in DeFi markets stood at $1.25 billion in mid-February 2020.
However, the amount of collateral in dollar terms plunged by some 58% from over a billion dollars to just above $500 million the following month.
Since then, the emerging market has made a solid recovery, and total value lockup (TVL) has topped the $1 billion milestone again, according to DeFi Pulse.
eToro’s Mati Greenspan was quick to acknowledge the achievement with the following tweet:
“Value in #DeFi smart contracts has returned to $1 billion.”

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