Smart Account Platform Safe: DeFi Net Assets Reach $12.4 Billion at End of Q3

On November 6, according to The Defiant, smart account platform Safe stated that as of the end of Q3, of the $57.64 billion in assets held by Safe smart accounts, the net value of positions in DeFi protocols amounted to $12.4 billion, after deducting $2.37 billion in borrowings.

Safe included DeFi positions in its asset statistics for the first time in Q3. Total account assets increased from $27.24 billion at the end of Q2, with changes in statistical methodology aside, a 66% rise in ETH also driving the growth.

At the end of Q3, stablecoin balances in Safe accounts grew 15% to $7.48 billion; quarterly transfer volume reached $44.75 billion, up 13.7% quarter-over-quarter.