The decentralized finance (defi) market is seeing a resurgence as the total value locked (TVL) in defi protocols surpasses the $40 billion mark. This comes after the TVL had remained below $40 billion since mid-August. As of now, the TVL stands at $41.42 billion, with all ten leading defi protocols experiencing double-digit gains in the past week.
Leading the pack with gains exceeding 20% are Summer Finance and Aave, followed by Rocket Pool and Lido Finance. This surge in TVL brings it back to a level last seen on August 15, 2023. Over the course of the past month, nine out of the top ten defi protocols have posted gains, with Aave and Justlend securing gains of approximately 17.15% each.
Out of the total TVL, $20.62 billion is in ethereum (ETH) liquid staking protocols, representing 49.78% of the current defi TVL. It is worth noting that four out of the top ten defi protocols focus on lending. While the TVL in defi shows signs of improvement, the top 100 defi coins hold a value of $49.95 billion, and these tokens have seen a global trade volume of $41.97 billion in the past 24 hours. Chainlink (LINK) experienced the largest increase this week, rising by 43.1% against the U.S. dollar.
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