DeFi TVL Surpasses $80 Billion Milestone

Over the course of one year and nine months since Terra’s stablecoin UST collapsed and Terra’s LUNA plummeted from a peak of $80 to below 1 cent. The days leading up to the incident, on May 1, 2022, saw the Total Value Locked (TVL) in the DeFi sector reach $196.6 billion. At that time, Terra accounted for $28.23 billion or 14.36% of the total TVL, with $16.48 billion tied to Anchor, which has since evaporated entirely.

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Though that period has faded somewhat in memory, Terra’s collapse not only wiped out significant value in the digital asset sector but also led to the downfall of major trading firms and organizations. With the crypto winter now behind us, the total value locked in DeFi has increased significantly to $83.25 billion. Lido leads with a colossal TVL of $29.49 billion.

Following Lido is Makerdao with a TVL of $8.66 billion, closely trailed by Aave with $8.56 billion, then Eigenlayer with $7.95 billion, and Justlend with $6.31 billion.

Ethereum holds the top position in the DeFi space, commanding over 60% of the total TVL. As of the weekend, a staggering $46.967 billion is distributed among 979 DeFi protocols using the Ethereum network.

Tron secures the second-largest blockchain position by TVL scale, holding $8.484 billion, accounting for 11.01% of the total DeFi TVL. BNB, Arbitrum, Solana, and Bitcoin are other leading blockchains in terms of TVL scale.

Over the past 130 days, the value locked in DeFi has increased by over $42 billion. The resurgence in DeFi appears to reflect users’ newfound confidence. However, predicting the durability of this momentum remains uncertain.

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