DeFi TVL Surpasses $50 bn as Assets Value Rises
DeFi protocols have reached a $50 billion capital milestone for the first time in six months, driven by rising asset values and investor interest. Ether and Solana-based projects have led gains, with Blast attracted over $700 million in deposits despite withdrawal restrictions until March. Ethereum (ETH) has risen 42% since October 13, outperforming the overall DeFi market by 41%. DeFi yields often involve stablecoins backed by fiat currencies like the dollar.
The growth of the DeFi sector is partly due to Ethereum’s shift to a proof-of-stake blockchain, promoting liquid staking. Lido and RocketPool dominate the market, offering annual yields of 3.7% and 3.92%, respectively. Solana network protocols have seen a significant jump in TVL, attracting institutional interest. Jito, a Solana’s liquid staking protocol, has seen an inflow of $327 million since mid-October.
(With inputs from Shikha Singh)
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