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Total value locked in Defi surpasses $50 billion for first time since FTX collapse – Defi

Crypto prices have surged in value over the past few days, with total value (TVL) in decentralized finance (defi) surpassing $50 billion for the first time since FTX collapsed. As of February 16, 2023, the TVL in defi is $51.1 billion, with the Lido liquid staking protocol accounting for 17.18% of the total.

Ethereum Dominates defi with over 60% TVL while Tron and Binance Smart Chain battle for second place

In the last 24 hours, the overall cryptocurrency market is up more than 5% against the US dollar, and the market capitalization the top token for smart contract platforms is up 7%. During the same period, Ethereum rose by 6.5%, BNB by 4.2%, Cardano by 2.4% and polygon by 8.3% against the US dollar. Solana recorded an increase of 3.9%, polka dots was up 3.6% and Avalanche was up 5.7%.

The above price increases pushed the total value (TVL) in decentralized finance (defi) above the $50 billion mark for the first time since November 8, 2022. As of February 16, 2023, statistics show that the TVL is approximately $51.1 billion, of which $8.78 billion is owned by Lido. Lido is the largest log in terms of TVL, capturing 17.18% of the total. The liquid staking protocol is powered by Makerdao, CurveAave and Convex Finance respectively.

Total value locked in Defi surpasses $50 billion for first time since FTX collapse – Defi, Crypto Trading News
Defi TVL statistics according to as of February 16, 2023.

As of this week, more than 60% of the total value locked in Defi of $30.98 billion is tied to Ethereum. Tron is the second largest Blockchain in terms of TVL size and has 10.39% of the total locked. Binance Smart Chain (BSC), which used to be the second largest chain in terms of TVL size, is now in third place with 9.57% of the total. After EthereumTron and BSC, TVL’s next largest blockchains are Arbitrum, Polygon, AvalancheOptimism, Fantom and Cronos.

The biggest protocol bridges in terms of locked value include WBTC, Multichain, Justcrypto, and Portal. As of February 16, 2023, major decentralized exchange platforms include (Dex platforms). UniswapCurve, Sunswap, Pancakeswap, balancer, Trader Joe, Spookyswap, Velodrome and Orca. Dex platforms processed $3.7 billion in global trading volume in the last 24 hours. The largest lenders in Defi include Aave, Venus, Justlend, Radiant, Geist Finance, Solend, Tectonic and Pando Rings.

What do you think is driving the recent surge in crypto prices and the growth of decentralized finance, and where do you see the industry going in the coming months? Share your thoughts in the comments below.

Total value locked in Defi surpasses $50 billion for first time since FTX collapse – Defi, Crypto Trading News

Jamie Redman

Jamie Redman is the news director at News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about today’s emerging disruptive protocols.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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