DEFI
Defi TVL reaches 20-month highs with Ethereum dominating the scene
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The decentralized finance (defi) total value locked (TVL) has been constantly rising since the start of the month and is getting close to the $70 billion mark.
According to data provided by Defi Llama, the global defi TVL recorded a 22% surge over the past two weeks and is currently standing at $68.99 billion. On Feb. 13, the TVL reached a 20-month high of $69.35 billion — a level last seen in mid-June 2022.
Per the data aggregator, there are currently 40 defi protocols with a TVL of over $500 million with Lido Finance leading the list with a TVL of $25.71 billion.
The rising defi star of 2024 is EigenLayer with a six-times TVL increase over the past six weeks. Per Defi Llama, EigenLayer’s TVL surged from $1.1 billion on Jan. 1 to $6.5 billion at the time of writing.
Ethereum (ETH) is still dominating the scene with a TVL of $40.95 billion, according to Defi Llama, followed by Tron with a TVL of $8.79 billion.
On Jan. 31, Solana (SOL) flipped Ethereum in terms of decentralized exchange (DEX) volume — reaching $1.46 billion.
However, Defi Llama data shows that Ethereum gained the top spot on Feb. 2 again after Solana’s DEX volume plunged below $900 million.
Ethereum’s DEX volume currently stands at $1.41 billion, per the data provider, followed by Solana’s $780 million DEX volume.
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