Amid the recent gains in the cryptocurrency economy, the total value locked (TVL) in decentralized finance (defi) protocols has surpassed the $40 billion threshold, marking a significant rebound. The TVL in defi had remained below this level since mid-August but has now reached $41.42 billion, according to defillama.com. This surge in TVL has been driven by double-digit gains in all ten of the leading defi protocols. Among the top gainers in the past week are Summer Finance and Aave, which have seen their gains exceed 20%. Other notable performers include Rocket Pool and Lido Finance. It is worth noting that the TVL in defi has not reached this level since August 15, 2023.
Over the past 30 days, nine out of the top ten defi protocols based on TVL have shown gains. However, Uniswap recorded a monthly loss of 15.94%. Among the biggest gainers for the month are Aave and Justlend, each securing gains of about 17.15%. Out of the total TVL of $41.42 billion, $20.62 billion is in ethereum (ETH) liquid staking protocols, representing 49.78% of the current TVL in defi. Ethereum’s liquid staking market has played a significant role in driving this increase. Moreover, four out of the top ten defi protocols focus on lending. While the TVL in defi has shown improvement, the top 100 defi coins have a combined value of $49.95 billion. These defi tokens have witnessed a global trade volume of $41.97 billion in the past 24 hours. Chainlink (LINK) has experienced the largest increase this week, rising by 43.1% against the U.S. dollar. Overall, despite the broader upward trend in the crypto market, 17 coins from the top 100 defi coins have recorded losses this week.
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