Rocket Pool-Led Defi TVL Surges By USD 9.3 Billion
The aggregate value locked in decentralized finance (Defi) has seen a substantial surge of USD 9.3 billion within 30 days since October 18, 2023. Rocket Pool, known for its liquid staking services, has achieved the most significant growth, rising by 26.94% during the last 30 days among the top ten Defi protocols.
Defi TVL Expands by More Than 25%
The total value locked (TVL) in decentralized finance (Defi) was estimated at USD 36.38 billion, 32 days ago. It now stands at USD 45.68 billion, rising by USD 9.3 billion. This reflects significant growth of about 25.56% in the last month, with Rocket Pool leading the surge by 26.94%. Data reveals that each of the top ten defi protocols by TVL has experienced growth in the last month.
Rocket Pool’s TVL surpassed USD 2 billion, with over 1.02 million ether committed to its liquid staking platform as of November 19, 2023. Lido is leading the Defi domain this weekend, with its dominant position of 8.98 million staked ether and TVL estimated at USD 17.71 billion.
Lido has seen its TVL grow by 21.76% over the last month. Makerdao follows Lido with a TVL of USD 8.14 billion locked, registering an increase of 3.28% over last month. Tron’s Justlend is the third-largest defi protocol by TVL, at USD 5.931 billion. The lending protocol rose by 22.93% this month.
Ethereum Blockchain Commands 54% of the TVL
As of November 19, the Ethereum blockchain commands over 54% of the total value locked in Defi, while Tron accounts for 17.98%. Binance Smart Chain (BSC) holds approximately 6.47%, with Arbitrum holding 4.56%. The infusion of value into Ethereum’s TVL has leaped to 32.59% this month, with Tron experiencing a 21.92% uptick. BSC has grown by 11.96%, while Arbitrum has seen a rise of 27.11%.
Leading liquid staking platforms today include Lido, STRX, and Binance Staked, while leading collateral debt position (CDP) protocols feature Makerdao, Juststables, and Helio. The top lenders as of November 19, 2023, are Aave, Justlend, and Venus Core, and the foremost real-world asset (RWA) protocols are Makerdao, Stusdt, and Solv v2. The top decentralized exchanges (Dexes) are Uniswap, Pancakeswap, and Thorchain, based on trading volumes.
The recent expansion in Defi by USD 9.3 billion and the rise in TVL highlight a rising confidence within the sector. The Ethereum dominance continues with notable growth in other blockchains, such as Tron, highlighting the ongoing diversification of the Defi ecosystem. However, it remains to be seen how long the positive trend is sustainable and when the TVL will eventually bounce back to reclaim the peak levels it attained two years ago.
What is your take on the Defi action over the last 30 days? Please share your thoughts and opinions in the comments section below.
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