Decentralized Finance (DeFi) Sees 25% Growth Since October 18
Since October 18, 2023, the total value locked (TVL) in decentralized finance (DeFi) has surged by $9.3 billion, standing at a total of $45.68 billion as of November 19, 2023. This represents a remarkable growth of 25.56% within a month, with every top ten DeFi protocol experiencing an increase in TVL. Rocket Pool, in particular, saw the most significant surge, with a 26.94% increase in the last 30 days.
Notably, Rocket Pool’s TVL has surpassed $2 billion, with over 1.02 million ether committed to its liquid staking platform. The leading position in the DeFi space is currently held by Lido, with 8.98 million staked ether and a TVL of approximately $17.71 billion.
Additionally, Ethereum commands over 54% of the total value locked in DeFi, while Tron accounts for 17.98%. Binance Smart Chain (BSC) holds approximately 6.47% of the TVL, and Arbitrum contains 4.56%. In terms of growth, Ethereum’s TVL has increased by 32.59% this month, while Tron has seen a 21.92% upturn.
Prominent liquid staking platforms today include Lido, STRX, and Binance Staked, while leading collateral debt position (CDP) protocols feature Makerdao, Juststables, and Helio. The top lenders are Aave, Justlend, and Venus Core, and the foremost real-world asset (RWA) protocols are Makerdao, Stusdt, and Solv v2. The top decentralized exchanges (DEXes) are Uniswap, Pancakeswap, and Thorchain.
The Growing Confidence in DeFi
The recent $9.3 billion surge in TVL reflects a growing confidence within the DeFi sector. Ethereum’s continued dominance, along with significant advances by other blockchains like Tron, underscores the ongoing diversification of the DeFi ecosystem. However, the long-term sustainability of this upward trend and whether the TVL will eventually surpass previous peak levels remains to be seen.
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