Why Dai Growing to Record High Indicates Positive Ethereum Growth

Ethereum is the platform of choice for DeFi, the Dai stablecoin is hitting new highs, and Maker is moving. As DeFi grows, the amount of Ethereum locked in the system also increases which is why a record high for Dai is also positive for ETH.

There is also a record amount of Ethereum at 2.42 million, or 2.2% of the entire supply locked in DeFi. Bitcoin maybe a store of wealth but Ethereum is shaping up to be the future of finance, so lending platforms such as Maker with the Dai stablecoin are expected to see a lot of steady growth as monetary systems evolve.

Timeline of Bitcoin, Ethereum