Value Locked In Defi Nears $100 bn Milestone
The total value locked (TVL) in decentralized finance (defi) protocols has reached $100 billion, a record not seen since Terra’s stablecoin collapse.
As of March 2024, the combined market value of all defi tokens stands at $115.46 billion, an increase of $12.79 billion from the $102.66 billion recorded on February 24, 2024.
Over the past week, avalanche (AVAX) has climbed more than 19%, while chainlink (LINK) has ascended by 11.5%.
Most defi tokens have experienced upward movements in the last week, with coins like INJ, STX, GRT, and THETA achieving substantial gains.
Lido, the liquid staking protocol, leads the charge in the defi space, commanding $33.849 billion of the total value locked on its platform, primarily attributed to its 9.84 million ethereum (ETH) holding. As of March 1, 2024, there are 29 defi protocols each holding over $1 billion in value.
(With inputs from Shikha Singh)
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