Decentralized finance (DeFi) hit another milestone this week as the total Ethereum (ETH) locked in these applications hit a fresh all-time high.

According to data from DeFi Pulse, the total Ethereum locked in DeFi apps currently sits at 2.419 million, surpassing the previous high of 2.332 million ETH set on April 10. Meanwhile, the total USD value of ETH, Dai (DAI) and Bitcoin (BTC) locked in DeFi currently sits at $660.48 million and is approaching the previous high of $684.6 million.

Maker (MKR) lending products are currently the largest contributor to the DeFi market, with $347.2 million locked, representing 52.9% of the total.

As we recently reported, the rapid growth of DeFi stands in stark contrast to the technical price action of ETH, which continues to underperform Bitcoin.

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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.