• Home
  • altcoins
  • Significant Recovery as Value Locked in Defi Crosses $40 Billion
Significant Recovery as Value Locked in Defi Crosses $40 Billion

Significant Recovery as Value Locked in Defi Crosses $40 Billion

Defi Market Surpasses $40 Billion TVL Mark

The decentralized finance (defi) market has seen a resurgence as the total value locked (TVL) in defi protocols has surpassed $40 billion. This milestone was reached on October 23 and currently stands at $41.42 billion, according to defillama.com. All of the top ten defi protocols have experienced significant gains in the past week.

Leading Gainers in the Defi Market

Summer Finance and Aave are leading the pack with gains exceeding 20% during this period. Rocket Pool and Lido Finance have also seen notable increases. The TVL in defi has not been at this level since August 15, 2023.

Gains in Top Ten Defi Protocols

Over the past 30 days, nine out of the top ten defi protocols by TVL size have recorded gains. However, Uniswap experienced a monthly loss of 15.94%. The biggest gainers for the month were Aave and Justlend, both securing gains of about 17.15%.

Ethereum Dominates Defi TVL

Out of the total $41.42 billion TVL, $20.62 billion is in ethereum (ETH) liquid staking protocols, representing 49.78% of the current TVL in defi. Four out of the top ten defi protocols focus on lending.

Value of Top 100 Defi Coins and Trading Volume

While the TVL in defi has shown improvement, the top 100 defi coins are valued at $49.95 billion, with a global trade volume of $41.97 billion in the past 24 hours. Chainlink (LINK) experienced the highest increase this week, rising by 43.1% against the U.S. dollar.

Gainers and Losers in the Defi Token Market

Lido’s DAO token (LDO) increased by 22%, and Injective (INJ) saw a rise of 37.7%. Other tokens such as SURE, TRB, BOND, and KWENTA also recorded notable gains. However, STPT, BNT, NRV, and RBN experienced losses ranging from 4% to 13%. Despite the overall upward trend in the crypto market, 17 coins from the top 100 defi coins recorded losses this week.

Hot Take: Defi Market Rebounds with Strong TVL Growth

The defi market has bounced back with a surge in TVL, surpassing the $40 billion mark. This growth is driven by significant gains in the top ten defi protocols, especially Summer Finance and Aave. Ethereum remains dominant in defi, accounting for almost half of the current TVL. The value of the top 100 defi coins has also risen, accompanied by a high trading volume. While some tokens have experienced substantial gains, there have been a few losers as well. Overall, this resurgence in the defi market showcases its resilience and potential for further growth.

Read Disclaimer
This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.

Share it

Significant Recovery as Value Locked in Defi Crosses $40 Billion