DeFi TVL Rebounds to the $54 Billion Mark, Eth-based MakerDAO Remains Dominant Lender

Fresh data DeFi Llama’s tracking service shows that the total valued locked (TVL), in Decentralized Finance Protocols has rebounded to $54 Billion.

The data show that the total TVL was down — between $53.7 and $53.29 billion — since October 12. The TVL fell to $52.22 Billion in September, its lowest level since March 2022.

Source: DefiLlama

Data from DefilLama demonstrates that The Ethereum-based MakerDAO is the largest DeFi lending platform, accounting for 14.48% market dominance and $7.83 trillion TVL. Lido is second with a market capital of $6.11billion, followed by Curve Finance at $5.92billion, Aave at $5.19billion, and Uniswap at $4.97billion.

According to Ethereum’s value lock, it remains the largest. DefiLlamaWith around $31.2 billion or 57% of the total value, it is just below 57%. Ethereum is followed by Tron’s $5.54 billion, Binance Smart Chain (BSC)’s $5.33 billion, and Avalanche’s $1.41 billion, among other DeFi protocols.

TVL simply means the total value all assets in DeFi protocols. TVL encompasses all tokens that are deposited in DeFi protocol functions, such as lending and staking. The TVL, or total funds in smart contracts, is an indicator of investor confidence and is closely monitored by analysts.

Due to the boom in cryptocurrency that was associated with the bull markets, which attracted huge capital over the last two-years, the total value of all DeFi platforms has seen a dramatic increase in TVL. All that changed in 2022.

DeFi’s value traded over $200 billion in March. Things started to get worse in May due to a wider sell-off on global markets and waning interest for risky assets like cryptocurrencies. The crypto market’s total value fell from $160 billion mid-April 2022 down to $52.2 billion by September 2022. This is the lowest level since March 20,22.

Source: Shutterstock



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