Defi Protocols Experience $11.89 Billion Surge in Total Value Locked (TVL) Over 35 Days

In the last 35 days, the aggregated value locked in decentralized finance (defi) protocols has grown by $11.89 billion, rebounding from a low of slightly over $83 billion on April 13. Although it hasn't quite reached the $100 billion threshold yet, the total value locked in defi is steadily approaching this significant milestone after lingering just below it.

Defi Protocols Witness $11.89B Expansion

As of May 18, 2024, data from defillama.com indicates that the total value locked (TVL) in defi stands at $94.93 billion, marking an increase of $11.89 billion from the low of $83.04 billion recorded 35 days earlier. Eigenlayer emerged as the frontrunner among the top five protocols by TVL, experiencing a notable 30-day surge of 19.67%.

Total Value Locked in Defi Edges Closer to $100B Mark Following $11.89B Growth in 35 Days

The TVL in defi as of May 18, 2024, based on defillama.com metrics.

Although Lido Finance, the largest defi protocol by TVL size, saw a modest 1.49% increase over the 30-day period, it still dominates the TVL landscape with $29.21 billion locked in value as of May 18, 2024. Eigenlayer's TVL currently stands at $15.39 billion, collectively representing 46.98% of the entire TVL in defi. The remaining top five protocols also saw increases in their TVL over the past 30 days, with Aave, Makerdao, and Justlend recording gains of 9.21%, 7.95%, and 4.96%, respectively.

Additionally, several other defi protocols experienced notable gains, including Etherfi with 28.91% and Zircuit Staking with 74.61% growth. However, some protocols, such as Perfectswap, suffered a significant 30-day reduction of 100%. Despite these fluctuations, the overall trajectory of defi appears to be one of steady recovery, as the TVL inches closer to the significant $100 billion milestone. This resurgence may signal renewed confidence in the dynamic defi sector within the cryptocurrency ecosystem.

What are your thoughts on the recent developments in the defi space and the approaching $100 billion TVL milestone? Feel free to share your opinions in the comments section below.