The total value of assets locked (TVL) on decentralized finance (DeFi) projects has experienced a significant decline of 30% year-on-year, reaching its lowest point for this year at $36.95 billion, according to data from DeFillama. Despite a strong start to the year, reaching a peak of over $52 billion in April, the DeFi sector has faced six months of consistent underperformance, leading to its current low.
However, amidst this decline, liquid staking projects have emerged as a resilient category within the DeFi sector. These projects have thrived, experiencing a return of almost 300% from their 2022 low and amassing nearly $20 billion in TVL, as reported by DeFillama data. The dominant player in this niche is Lido, which maintains over 50% of the market share, surpassing major contenders like Binance, Coinbase, and Kraken. Additionally, Tron-based projects have witnessed significant growth, contributing to the overall TVL by reaching an all-time high of 18.23% compared to the 6.5% recorded earlier in the year. This increase can be attributed to the growth of the first Real-World Assets (RWA) on the Tron network, specifically stUSDT, which has accumulated a TVL of nearly $2 billion in just four months since its launch.
#DeFi #LiquidStaking #Tron #TVL #DecentralizedFinance #Blockchain #Crypto #Lido
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