{"id":48149,"date":"2023-08-14T09:25:06","date_gmt":"2023-08-14T13:25:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/defi-value-locked-reaches-nearly-42-billion-as-token-market-experiences-significant-growth-heres-the-latest\/"},"modified":"2023-08-14T09:25:08","modified_gmt":"2023-08-14T13:25:08","slug":"defi-value-locked-reaches-nearly-42-billion-as-token-market-experiences-significant-growth-heres-the-latest","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48149","title":{"rendered":"DeFi Value Locked Reaches Nearly $42 Billion as Token Market Experiences Significant Growth \u2013\u00a0Here’s the Latest"},"content":{"rendered":"
\n

The\u00a0total value locked (TVL)<\/strong>\u00a0across\u00a0DeFi\u00a0<\/strong>projects has experienced a resurgence after teetering below the $40 billion mark last week.<\/p>\n

According to\u00a0data from DeFi TVL aggregator DefiLlama, the DeFi market cap is currently valued at over $41 billion, with approximately $1.6 billion in trading volume over the past day.<\/p>\n

The surge indicates a daily rise of around 6%, accompanied by a 6.39% increase in trade volume.\u00a0<\/p>\n

Among the top DeFi tokens,\u00a0Chainlink (LINK)\u00a0has emerged as one of the biggest winners of the week, experiencing a more than 4% increase in value.\u00a0<\/p>\n

However, other coins like Synthetix (SNX) and injective (INJ) have slipped by 2.70% and 3.36%, respectively, over the past week.<\/p>\n

Among smaller DeFi tokens, some witnessed notable growth while others faced significant declines.\u00a0<\/p>\n

During the previous week, Ellipsis (EPS) experienced a remarkable rise of 129% and Thorchain (RUNE) climbed by 49.29%.\u00a0<\/p>\n

Conversely, Persistence (XPRT) plummeted by 12.47%, and Mobox (MBOX) suffered a decline of 10.94%.\u00a0<\/p>\n

Curve’s CRV token, still\u00a0recovering from a recent hacking incident, fell by an additional 4.81% this week.<\/p>\n

DeFi TVL Reaches Almost $42 Billion on Sunday<\/h2>\n

Despite fluctuations in token performance, theTVL in DeFi reached $41.94 billion on Sunday, narrowly avoiding falling below the $40 billion threshold.\u00a0<\/p>\n

Leading the pack in TVL size is\u00a0Lido Finance<\/strong>, boasting an impressive $15.11 billion in its liquid staking protocol.\u00a0<\/p>\n

Following Lido,\u00a0Makerdao<\/strong>,\u00a0Aave<\/strong>,\u00a0Uniswap<\/strong>, and\u00a0Tron’s Justlend<\/strong>\u00a0protocol are ranked based on TVL size.<\/p>\n

Out of the 202 blockchain platforms, Ethereum dominates with over 58% of the TVL market share, amounting to $24.38 billion.\u00a0<\/p>\n

Trailing behind are Tron, BSC, Arbitrum, Polygon, Optimism, Avalanche, Mixin, Solana, and Cronos. Tron’s TVL commands a 13.31% market share, with a combined value of $5.56 billion as of Sunday morning.<\/p>\n

Furthermore, an astonishing 10.89 million Ether, equivalent to $20.252 billion, is locked in 23 distinct liquid staking DeFi protocols related to Ethereum.\u00a0<\/p>\n

These protocols account for nearly half (48.28%) of the entire $41.94 billion TVL in DeFi across all 202 blockchain networks<\/p>\n

The rise in DeFi TVL comes amid a surge in good news within the industry.\u00a0<\/p>\n

Last week, payments giant PayPal\u00a0announced\u00a0that it is rolling out its PYUSD stablecoin soon.<\/p>\n

The dollar-pegged asset is issued by Paxos, a blockchain infrastructure firm that used to issue\u00a0Binance USD (BUSD)\u00a0stablecoin.<\/p>\n

Likewise,\u00a0Coinbase<\/strong>\u00a0announced the launch of its\u00a0Ethereum (ETH)\u00a0layer-2 scaling solution\u00a0Base.<\/strong><\/p>\n

The platform aims to enable developers to build their own crypto applications, expanding Coinbase’s revenue streams beyond its core trading business.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00a0total value locked (TVL)\u00a0across\u00a0DeFi\u00a0projects has experienced a resurgence after teetering below the $40 billion mark last week. According to\u00a0data from DeFi TVL aggregator DefiLlama, the DeFi market cap is currently valued at over $41 billion, with approximately $1.6 billion in trading volume over the past day. The surge indicates a daily rise of around 6%, […]<\/p>\n","protected":false},"author":1,"featured_media":48150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-48149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nDeFi Value Locked Reaches Nearly $42 Billion as Token Market Experiences Significant Growth \u2013\u00a0Here's the Latest | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The\u00a0total value locked (TVL)\u00a0across\u00a0DeFi\u00a0projects has experienced a resurgence after teetering below the $40 billion mark last week.According to\u00a0data from\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=48149\" \/>\n<meta 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