Trading volume on decentralized exchanges also saw a similar pattern of steady growth and a slight decline near the end of the first quarter.
Bitcoin fell below $18,000 Wednesday while DeFi closing in on $15 billion locked may have more to do with price than actual cryptocurrency parked there.
A bit of bitcoin price dumping occurred Monday while some investors dove back into DeFi with their ether.
Bitcoin price saw little action on Tuesday. Meanwhile, the value of crypto locked in DeFi has gone down for the first time.