The Decentralized Finance (DeFi market) with over $1 billion in TVL in February across DeFi applications, was landed a severe blow by the 12-13th market crash. Currently, the figure stands at $637.7 million.  Even one of its most prominent platforms, MakerDAO crippled during that period. As soon as the price of Ethereum took a beating and fell down by 22% it triggered $5 million either of DeFi loan liquidations. Ever since that instance, the platform's outstanding sent is on a constant decline.

The researcher Chiplunkar noted that: “I have observed liquidators performing non-profitable liquidations in an attempt to dry out the competition”.
<blockquote class="twitter-tweet">
1/5) In the last 3 days <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> price fell by 18%. Time for another round of liquidations.
A total of $5M loans have been liquidated on-chain. 40% of those liquidations have happened on DyDx while 59% were on Compound.

data: <a href="https://twitter.com/thetokenanalyst?ref_src=twsrc%5Etfw">@thetokenanalyst</a>

Some interesting transactions ? <a href="https://t.co/LL4tlvTcdL">pic.twitter.com/LL4tlvTcdL</a>

— Ankit Chiplunkar (@ankitchiplunkar) <a href="https://twitter.com/ankitchiplunkar/status/1237341470107074560?ref_src=twsrc%5Etfw">March 10, 2020</a></blockquote>
The debt fell sharply and totalled almost $133.6 million, according to Arcane research. The locked total value of Maker reached $310.467 million on 3rd March but later recovered well. the TVL value reaches $356..479milliom on April 3rd and even after the disturbances the platform continues to dominate the DeFi space with almost 76% of the total volume of outstanding debt.
<h2>Centralized Platforms Has More Outstanding Loans than the DeFi Platforms</h2>
Arcane research also suggests that all the big centralized platforms like  Gemini, Celsius has more outstanding loans than all of the DeFi combined. These custodial platforms have a habit of providing inaccurate numbers, which makes it hard to provide immaculately and core up with the exact numbers.

However, Genesis did provide in its Q4 report, that OT had $545 million is outstanding loans while BlockFi stated it currently has $650 million in deposits.  After drawing the parallels, it is safe to say that DeFi lending has been the most utilized application of DeFi so far.

You May Also Read.
<ul>
 	<li><a href="https://www.cryptoknowmics.com/crypto/hive-to-enhance-ethereum-mining-facility-in-sweden/">HIVE to Enhance Ethereum Mining Facility in Sweden </a></li>
 	<li><a href="https://www.cryptoknowmics.com/crypto/makerdao-launches-bounty-program-to-boost-blockchain-gaming/">MakerDAO Launches Bounty Program To Boost Blockchain Gaming</a></li>
 	<li><a href="https://www.cryptoknowmics.com/crypto/crypto-markets-situation-on-the-daily-trade-btc-at-7200/">Crypto Markets Situation on the Daily Trade, BTC at $7,200</a></li>
</ul>

DeFi Platforms Note Heavy Decline in Outstanding Loans

The outstanding debt on Decentralized Platforms (DeFi) fell sharply, and accounted for $133.6 million, according to Arcane Research.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

DeFi Platforms Note Heavy Decline in Outstanding Loans

Top Picks