The decentralized finance (defi) market has experienced a resurgence as the total value locked (TVL) in defi protocols surpasses the $40 billion mark. This milestone comes after the TVL remained below $40 billion since mid-August. The top 100 defi coins by market capitalization are also inching closer to the $50 billion mark.
According to defillama.com, the TVL in defi has reached $41.42 billion as of Thursday. All ten leading defi protocols by TVL have seen double-digit gains in the past week. Summer Finance and Aave are leading the way with gains exceeding 20%, while Rocket Pool and Lido Finance have also experienced significant growth. This level of TVL has not been seen since August 15, 2023.
Over a 30-day period, nine out of the top ten defi protocols have posted gains, with Aave and Justlend leading the pack with gains of about 17.15%. Out of the $41.42 billion TVL, $20.62 billion is in ethereum, primarily coming from ethereum’s liquid staking market. Additionally, four out of the top ten defi protocols are focused on lending.
Although the TVL in defi has shown improvement, the top 100 defi coins are valued at $49.95 billion, with a significant trade volume of $41.97 billion in the past 24 hours. Chainlink (LINK) has experienced the largest increase this week, rising 43.1% against the U.S. dollar. Overall, while the defi market is on the rise, some coins from the top 100 have recorded losses in the past week.
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