The value of the tokens underpinning decentralized finance, or DeFi, protocols has again surpassed $1 billion.

The milestone comes amid a fasten in the proliferation of DeFi projects, with data aggregator DeFiMarketCap estimating 246 projects to exist active.

The combined capitalization had crashed beneath $1 billion amid the March crypto crash that sparked a liquidity crisis for acme DeFi project, MakerDAO (MKR).

DeFi token capitalization reclaims $i billion

According to DeFiMarketCap, the three-largest tokens represent over half of the combined DeFi capitalization — with Maker representing 28%, 0x (ZRX) comprising 16%, and Synthetix Network Token (SNX) totaling 11% of the DeFi market place cap.

The tokens testify heavy correlation, with only four of the top 100 protocols producing price fluctuations exceeding 5% over the past 24 hours. The current combined capitalization of DeFi tokens is $i.05 billion.

Token value exceeds assets under management by thirty%

Defi Pulse estimates that $703.three one thousand thousand in assets are currently locked upwards in DeFi protocols — with MakerDao representing 49%.

The value of the combined funds locked up in DeFi protocols exceeded $1 billion in February every bit MakerDao's asset capitalization broke into new highs higher up $500 1000000. However, subsequently posting its current all-fourth dimension loftier of $750 1000000 on Feb. 15, Maker's capitalization began to retract.

The mid-March crash would accelerate Maker's decline — with locked-upwards funds falling 44% from $505 meg to $310 in just two days and comprising a near sixty% drop since mid-February.

DeFi Pulse estimates that the elevation three protocols — Maker, Synthetix, and Compound — represent 76% of all assets locked up, with $536.1 million.

New DeFi protocols proliferate

The number of DeFi projects providing lending services has increased significantly over the past year, with DeFi transactions coming to represent up to 1-third of the Ethereum (ETH) block infinite.

On Apr 8, PieDAO launched its kickoff fund, chosen BTC++, on Uniswap. PieDAO allows users to create tokenized portfolios that offer exposure to both crypto and traditional avails through constructed assets. PieDAO BTC++ is already the 88th-largest DeFi protocol, with $95,200 in funds locked up.

OpenLaw's limited liability for-profit decentralized autonomous organization, the LAO, announced information technology volition open up its doors to membership on Apr 28. The LAO membership is only available to accredited investors.