The whole worth captured in decentralized finance protocols has reached a one-month excessive because the broader crypto market recovers.
Based on knowledge from DefiLlama, the worldwide DeFi TVL at the moment stands at $87.3 billion – a degree final seen on August 27. Nonetheless, weekly buying and selling quantity has fallen 2.2% over the previous seven days and is hovering round $23 billion.
Prime 10 DeFi Protocols – September 23 | Supply: DefiLlama
Notably, on September 7, DeFi TVL fell to $75 billion for the primary time since late February.
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Knowledge reveals that the highest 10 main DeFi protocols have all proven bullish momentum over the previous week.
Lido’s TVL crossed the $25 billion mark after rising 13% in seven days. AAVE witnessed fairly an analogous transfer and TVL rose to $12.4 billion. EigenLayer secured the third spot with a TVL of $12.2 billion.
Moreover, Lido DAO (LDO) and Aave (AAVE) – the native tokens of the 2 main protocols – are up 1.5% and seven.8% respectively over the previous 24 hours. LDO is at the moment buying and selling at $1.15 and AAVE surpassed $170.
Ethena misplaced tenth place to Pendle after TVL fell 3% final week.
The whole worth captured in DeFi continues to be greater than 50% decrease than the November 2021 excessive of just about $188 billion.
DeFi TVL, Might 2018 – September 2024 | Supply: DeFiLlama
Based on knowledge from CoinGecko, the worldwide cryptocurrency market capitalization rose from $2.14 trillion to $2.31 trillion prior to now week. Many of the positive aspects got here on September 18, when the US Federal Reserve minimize rates of interest by 50 foundation factors.
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