{"id":17723,"date":"2023-02-16T17:47:22","date_gmt":"2023-02-16T17:47:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/total-value-locked-in-defi-surpasses-50-billion-mark-for-first-time-since-ftx-collapse-defi-bitcoin-news\/"},"modified":"2023-02-16T17:47:22","modified_gmt":"2023-02-16T17:47:22","slug":"total-value-locked-in-defi-surpasses-50-billion-mark-for-first-time-since-ftx-collapse-defi-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/total-value-locked-in-defi-surpasses-50-billion-mark-for-first-time-since-ftx-collapse-defi-bitcoin-news\/","title":{"rendered":"Total Value Locked in Defi Surpasses $50 Billion Mark for First Time Since FTX Collapse \u2013 Defi Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Crypto prices have surged in value over the past few days, and the total value locked (TVL) in decentralized finance (defi) has surpassed the $50 billion mark for the first time since the collapse of FTX. As of Feb. 16, 2023, the TVL in defi is $51.1 billion, with the liquid staking protocol Lido accounting for 17.18% of the total.<\/strong><\/p>\n

Ethereum Dominates Defi With Over 60% of TVL, While Tron and Binance Smart Chain Battle for Second Place<\/h2>\n

In the past 24 hours, the entire cryptocurrency market has risen more than 5% against the U.S. dollar, and the market capitalization of the top smart contract platform tokens has increased<\/a> by 7%. During the same period, ethereum increased by 6.5%, BNB<\/a> rose by 4.2%, cardano increased by 2.4%, and polygon rose by 8.3% against the U.S. dollar. Solana saw a 3.9% increase, polkadot rose by 3.6%, and avalanche gained 5.7%.<\/p>\n

The aforementioned price increases have propelled the total value locked (TVL) in decentralized finance (defi) above the $50 billion mark for the first time since Nov. 8, 2022. As of Feb. 16, 2023, statistics<\/a> show that the TVL is approximately $51.1 billion, with $8.78 billion held by Lido. Lido is the largest protocol in terms of TVL, capturing 17.18% of the total. The liquid staking protocol is followed by Makerdao, Curve, Aave, and Convex Finance, respectively.<\/p>\n

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Defi TVL statistics according to defillama.com on Feb. 16, 2023.<\/figcaption><\/figure>\n

This week, more than 60%<\/a> of the total value locked in defi, amounting to $30.98 billion, is tied to Ethereum. Tron is the second-largest blockchain in terms of TVL size, commanding 10.39% of the total value locked. Binance Smart Chain (BSC), which used to be the second-largest chain in terms of TVL size, is now in third place, with 9.57% of the total value. After Ethereum, Tron, and BSC, the next largest blockchains by TVL are Arbitrum, Polygon, Avalanche, Optimism, Fantom, and Cronos.<\/p>\n

The largest protocol bridges in terms of value locked include WBTC, Multichain, Justcrypto, and Portal. As of Feb. 16, 2023, the top decentralized exchange (dex) platforms include Uniswap, Curve, Sunswap, Pancakeswap, Balancer, Trader Joe, Spookyswap, Velodrome, and Orca. Dex platforms processed $3.7 billion<\/a> in global trade volume over the past 24 hours. The largest lenders in defi include Aave, Venus, Justlend, Radiant, Geist Finance, Solend, Tectonic, and Pando Rings.<\/p>\n

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\nTags in this story
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Aave<\/a>, Arbitrum<\/a>, Avalanche<\/a>, Balancer<\/a>, Binance Smart Chain<\/a>, Blockchain<\/a>, convex finance<\/a>, Cronos<\/a>, Cryptocurrency<\/a>, Curve<\/a>, decentralized exchange<\/a>, decentralized finance<\/a>, DeFi<\/a>, Defi Apps<\/a>, Defi protocols<\/a>, DEX<\/a>, Ethereum<\/a>, Fantom<\/a>, Justcrypto<\/a>, Lido<\/a>, Liquid Staking<\/a>, locked value<\/a>, makerdao<\/a>, multichain<\/a>, Optimism<\/a>, Pancakeswap<\/a>, Polygon<\/a>, portal<\/a>, protocol bridges<\/a>, total value locked<\/a>, Trader Joe<\/a>, tron<\/a>, TVL<\/a>, uniswap<\/a>, WBTC<\/a><\/div>\n<\/div>\n

What do you think is driving the recent surge in crypto prices and the growth of decentralized finance, and where do you see the industry headed in the coming months? Share your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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