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Defy’s value is now equal to the 40th top American bank

The total value of DeFi locked-in capital, crossing the $ 100 billion mark, is now equal to the 40th largest US bank. Difa activists predict that the field will experience further growth in the coming years.

to the Report Coin Telegraph, data from DeFiLlama, a decentralized financial analytics ecosystem, shows that the total value locked in the area crossed the $ 100 billion mark for the first time on Tuesday morning. The figure rose from $ 94.7 billion on Monday to $ 101.33 billion (at the time of writing), up 7 percent.

Aside from the psychological significance of being numbered, reaching this level is also remarkable in terms of the speed of its acquisition, as it stood at $ 20.74 billion on January 1. On the other hand, it is also very important in terms of the very high number of assets that exist in this fledgling vertical market.

According to Wikipedia, Difai, with $ 100 billion in locked-in value, is now the 40th largest bank in the United States, between the $ 97 billion Silicon Valley Bank and the $ 103 billion BBVA USA.

Some of the highlights to be surpassed by Diffay in the coming months include Deutsche Bank with $ 119 billion, ranked 38th, and Credit Suisse with $ 124 billion, ranked 35th.

To become the equivalent of the largest US bank, Difai must overtake JPMorgan with $ 3.2 trillion in locked-in value and then cross the $ 4.3 trillion industrial and commercial bank of China. To become the largest bank in the world.

The bulk of Diffie’s $ 101.33 billion is owed by the strong presence of protocols in the Ethereum Blockchain. The top 20 protocols in terms of value are $ 82.33 billion locked in, 14 of which are based on Ethereum with a total value of $ 66.42 billion.

Ethereum rival Binance Smart Chain has four protocols in the top 20 with a total value of $ 14.53 billion locked in. Terra’s Mirror Synthetic asset platform is worth $ 1.77 billion, with Autofarm at the bottom of the top 20 with $ 1.48 billion.

Explaining the success, Chris Spadafora, founder of BadgerDAO, said the $ 100 billion was just the first step in the larger-scale growth expected.

He added:

This is just the beginning, and next year at the same time its locked value will be 20 times that amount.

Degen Spartan of eGirl Capital wrote, citing a famous comment by Tesla CEO Elon Musk:

Looking back, it was inevitable.


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