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Biggest DAOs Now Hold $6B Worth of Digital Assets: ConsenSys
More than $6 billion worth of digital assets are held in the 20 biggest DAOs, according to a report from ConsenSys.
The 20 largest decentralized autonomous organizations (DAOs) hold $6 billion worth of digital assets, according to the latest DeFi report from ConsenSys, an Ethereum software company.
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The biggest DAOs include decentralized finance (DeFi) projects such as Compound, Uniswap, Bankless and public-funding entities such as Gitcoin.
The ConsenSys DeFi report highlights that DAOs have flourished in the second quarter and now represent a new type of coordination when it comes to dealing with financial decisions for fundraising or deploying capital.
Decentralized exchanges (DEXs) are tackling the issue of being able to access crypto assets from anywhere in the world as long as users have an internet connection and an active wallet like MetaMask, a wholly owned product of ConsenSys. The wallet reached 7.3 million users in the three months through June.
MetaMask allows users to access the Ethereum blockchain and functions much like a bitcoin wallet while enabling users to sign in to decentralized applications and use them through a regular browser.
“What makes DeFi so alluring is that anyone with an idea can coordinate, pool funds, and even create tokens that represent your share within the organization,” the report said.
Read more: ConsenSys Chief Joe Lubin: Ethereum’s ‘Enterprise’ Play Is Evolving
As of July 1, 2021, there were a total of 161 million unique Ethereum addresses, a 10% increase from the end of the first quarter, when the rate of growth was 12%, according to the report.
Median gas prices on Ethereum fluctuated between 100 gwei and 300 gwei between April 1 and June 1. Since June, the median fee has hovered around 30 gwei, or $1.33, for a simple transfer and $12.65 for a Uniswap trade.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
