Crypto costs have surged in worth over the previous few days, and the whole worth locked (TVL) in decentralized finance (defi) has surpassed the $50 billion mark for the primary time for the reason that collapse of FTX. As of Feb. 16, 2023, the TVL in defi is $51.1 billion, with the liquid staking protocol Lido accounting for 17.18% of the whole.
Ethereum Dominates Defi With Over 60% of TVL, Whereas Tron and Binance Good Chain Battle for Second Place
Up to now 24 hours, the complete cryptocurrency market has risen greater than 5% in opposition to the U.S. greenback, and the market capitalization of the highest sensible contract platform tokens has elevated by 7%. Throughout the identical interval, ethereum elevated by 6.5%, BNB rose by 4.2%, cardano elevated by 2.4%, and polygon rose by 8.3% in opposition to the U.S. greenback. Solana noticed a 3.9% improve, polkadot rose by 3.6%, and avalanche gained 5.7%.
The aforementioned worth will increase have propelled the whole worth locked (TVL) in decentralized finance (defi) above the $50 billion mark for the primary time since Nov. 8, 2022. As of Feb. 16, 2023, statistics present that the TVL is roughly $51.1 billion, with $8.78 billion held by Lido. Lido is the biggest protocol by way of TVL, capturing 17.18% of the whole. The liquid staking protocol is adopted by Makerdao, Curve, Aave, and Convex Finance, respectively.
This week, greater than 60% of the whole worth locked in defi, amounting to $30.98 billion, is tied to Ethereum. Tron is the second-largest blockchain by way of TVL dimension, commanding 10.39% of the whole worth locked. Binance Good Chain (BSC), which was the second-largest chain by way of TVL dimension, is now in third place, with 9.57% of the whole worth. After Ethereum, Tron, and BSC, the following largest blockchains by TVL are Arbitrum, Polygon, Avalanche, Optimism, Fantom, and Cronos.
The most important protocol bridges by way of worth locked embrace WBTC, Multichain, Justcrypto, and Portal. As of Feb. 16, 2023, the highest decentralized change (dex) platforms embrace Uniswap, Curve, Sunswap, Pancakeswap, Balancer, Dealer Joe, Spookyswap, Velodrome, and Orca. Dex platforms processed $3.7 billion in world commerce quantity over the previous 24 hours. The most important lenders in defi embrace Aave, Venus, Justlend, Radiant, Geist Finance, Solend, Tectonic, and Pando Rings.
What do you suppose is driving the current surge in crypto costs and the expansion of decentralized finance, and the place do you see the trade headed within the coming months? Share your ideas within the feedback beneath.
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