DeFi Protocol Assets Approach $100 Billion Mark
Date: 2024-03-03 Author: Dima Zakharov Categories: BLOCKCHAIN
Rising Market Value and Token Prices
In the realm of decentralized finance (DeFi), there has been a notable surge in activity. The collective market value of all DeFi tokens stood at $115.46 billion as of March 2024, marking a $12.79 billion increase from $102.66 billion recorded on February 24, 2024.
Recent Price Surges
Over the past week, Avalanche (AVAX) saw a rise of over 19%, while Chainlink (LINK) surged by 11.5%. Most DeFi tokens experienced growth in terms of market capitalization, with coins like INJ, STX, GRT, and THETA showing particularly outstanding results.
Increase in Total Value Locked (TVL)
The total value locked (TVL) in decentralized finance grew by approximately $11.66 billion over seven days, rising from $80.21 billion to $91.87 billion on March 2. Leading the DeFi space is the liquid staking protocol Lido, with $33.849 billion locked in, primarily due to the presence of 9.84 million Ethereum (ETH).
Top DeFi Protocols
As of March 1, 2024, each of the 29 DeFi protocols surpassed $1 billion in value. Ethereum-based DeFi protocols accounted for $52.47 billion, or 60.03% of the current TVL. Tron's TVL stood at $9.47 billion, while BNB's was $4.95 billion.
Leading Decentralized Exchange Platforms
Among the top decentralized exchange (DEX) platforms this week were Uniswap v3, Jupiter, Orca, Pancakeswap, Uniswap v2, Curve, Thorchain, Raydium, and Quickswap. Global trading volumes for each of these exchanges ranged from $109 million to $1.3 billion over 24 hours.
