Interest is growing in several distributed financial platforms based on Ethereum and other blockchain networks. The growth of the entire sector was around 130% over the last 12 months, with Ethereum-based apps continuing to dominate.
According to the website DeFi Pulse, a service tracking the growth of the sector, this time last year, there was $305.95 million worth of Ether (ETH) and other digital assets locked up in decentralized financial applications. Today, that figure is more than $700 million.
The most popular DeFi application by far is the Maker DAO stablecoin lending project. A total of $385 million, or 2.4 million ETH, is currently locked in the Ethereum-based decentralized credit platform. Although this is considerably less than the June 2019 all-time high of $505 million (caused by ETH price fluctuations), in terms of actual Ether committed to the platform, Maker has never been more popular. There is currently 2.415 million ETH locked up in the DeFi app. The platform accounts for a massive 55.41 percent of the entire decentralized finance sector.

ETH locked in DeFi going parabolic.
— Wolf 🐺 (@IamCryptoWolf) January 8, 2020
Price will follow, i'm accumulating AF. pic.twitter.com/JjgetnovqN
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