The Defi TVL Approaches $70 Billion as Ethereum Dominates the Scene
The decentralized finance (defi) total value locked (TVL) has been steadily increasing and is now nearing the $70 billion mark. Over the past two weeks, the global defi TVL has experienced a 22% surge, reaching $68.99 billion. On February 13th, it reached a 20-month high of $69.35 billion, a level not seen since mid-June 2022.
According to Defi Llama, there are currently 40 defi protocols with a TVL of over $500 million. Lido Finance leads the list with a TVL of $25.71 billion.
A notable standout in the defi space is EigenLayer, which has experienced a six-times increase in TVL over the past six weeks. Starting at $1.1 billion on January 1st, EigenLayer’s TVL now stands at $6.5 billion.
Ethereum remains the dominant player in defi with a TVL of $40.95 billion, followed by Tron with $8.79 billion. However, Solana briefly surpassed Ethereum in terms of decentralized exchange (DEX) volume on January 31st, reaching $1.46 billion. But Ethereum regained the top spot on February 2nd when Solana’s DEX volume dropped below $900 million. Currently, Ethereum’s DEX volume is at $1.41 billion, while Solana’s is at $780 million.
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