DeFi Loans Hit New ATH
The top three DeFi money markets just crossed $20 bn in cumulative loans outstanding. Despite overly bearish sentiment and an aggressive down trend between May and July, usage of money market protocols didn’t dwindle whatsoever.
We’ve seen Compound gain some market share in recent weeks while Maker’s hold deteriorated. AAVE and COMP are both up over 100% from their July price troughs while MKR is just shy of a 100% bounce since.