The total value locked (TVL) in decentralized finance (defi) is on the brink of surpassing the $50 billion threshold, standing at $48.91 billion currently. This figure marks a significant rebound from the low of $36.39 billion recorded 46 days ago, on October 18. Over this period, the TVL in defi has experienced a robust growth of 34.40%.
Defi TVL Set to Break $50 Billion Barrier
In recent times, the top ten defi protocols have shown remarkable performance, with the leading two liquid staking applications spearheading this growth. Lido, the frontrunner in defi protocols, witnessed a notable 20.17% surge in its 30-day metrics, while Makerdao experienced a 5.46% increase in the same timeframe.
Tron’s Justlend protocol enjoyed a 6.93% uptick, and Aave’s TVL climbed by 8.61%. Not to be outdone, Uniswap, ranking fifth in terms of TVL size, grew by 15.16% this month, closely followed by Summer Finance with an impressive 18.62% leap. The only exception in the top ten was STUSDT, which saw a marginal decline of 0.33% over the month.
The defi landscape also witnessed significant double-digit growth in Spark and Blast. However, Juststables encountered a 29.95% decrease in its TVL value over the last 30 days, and Tron’s SUN protocol also recorded a 23.77% reduction in the same period. As of Sunday, Ethereum dominates the defi space, holding 56.52% of all value, followed by Tron with 15.74%, and BSC with 6.13%. While Ethereum’s TVL rose by 26.48%, Tron’s saw a dip of 3.29% during the month.
Other chains following BSC in the top ten TVL rankings include Arbitrum, Polygon, Optimism, Solana, Avalanche, Cronos, and Base. Bitcoin secures the 11th spot in the ranking of the largest TVLs by blockchain. Notably, Solana (SOL) exhibited the most significant increase in TVL per chain, soaring by an impressive 69.33% this month.
What do you think about the latest defi market action? Share your thoughts and opinions about this subject in the comments section below.
Source: Bitcoin.com
