The decentralized finance (defi) market has made a significant comeback as the total value locked (TVL) surpasses the $40 billion mark. After remaining below this level since mid-August, the TVL in defi protocols has now risen to $41.42 billion. The top 100 defi coins by market capitalization are also inching closer to the $50 billion mark.
According to defillama.com, all ten leading defi protocols by TVL have experienced double-digit gains in the past week. Summer Finance and Aave are at the forefront with gains exceeding 20% during this time. Other notable gainers include Rocket Pool and Lido Finance. This surge in TVL signifies a positive trend in the defi market, as nine of the top ten defi protocols have posted gains over the course of 30 days. However, Uniswap recorded a monthly loss of 15.94%. Ethereum plays a significant role in the TVL, with $20.62 billion locked in ethereum’s liquid staking protocols, representing 49.78% of the current TVL. The lending sector is also well-represented among the top ten defi protocols.
The total value of the top 100 defi coins stands at $49.95 billion, with $41.97 billion in global trade volume in the past 24 hours. Chainlink (LINK) experienced the largest increase this week, rising 43.1% against the U.S. dollar. Other tokens, such as Lido’s DAO token (LDO) and Injective (INJ), also saw significant gains. However, some coins, including STPT, BNT, NRV, and RBN, recorded losses ranging from 4% to 13% despite the overall upward trend in the crypto market.
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