According to decentralized finance ecosystem tracker DeFiLlama, early on Tuesday, the DeFi ecosystem breached $100 billion in total value locked for the first time — rising 7% from $94.7 billion on Monday to $101.33 billion at the time of publication.

Aside from the psychologically significant ninth digit, the figure is notable both for the speed with which it was attained (the ecosystem sat at $20.74 billion total on Jan. 1) and the sheer quantity of assets the upstart financial vertical now represents.

According to Wikipedia, at $100 billion TVL in DeFi is now the equivalent of the 40th-largest United States bank, sitting between Silicon Valley Bank’s $97 billion in assets and BBVA USA’s $103 billion. Some notable names poised to be left in the dirt in the coming months include Deutsche Bank, sitting at number 38 with $119 billion, and Credit Suisse at number 35 with $124 billion.

To become the equivalent of the largest U.S. bank, DeFi would have to surpass JPMorgan’s $3.2 trillion, and then the Industrial and Commercial Bank of China’s $4.3 trillion to become the largest in the world.

Protocols on the Ethereum blockchain overwhelmingly contribute to the majority of DeFi’s $101.33 billion. The top 20 protocols by TVL account for $82.33 billion, and 14 of those are native to Ethereum, with an aggregate TVL of $66.42 billion.

Ethereum competitor Binance Smart Chain counts four protocols in the top 20, with $14.53 billion in TVL, while Terra’s Mirror synthetic asset platform contributes $1.77 billion and multichain Autofarm rounds out the top 20 with $1.48 billion.

When reached for comment on the achievement, BadgerDAO’s Chris Spadafora said that $100 billion is only the first step in a much larger expansion on the horizon.

“This is just the beginning for DeFi and by this time next year it will be 20x the current TVL,” he said.

Likewise, eGirl Capital’s Degen Spartan invoked Elon Musk while reflecting on the milestone.

“In retrospect, it was inevitable.”