The whole worth locked (TVL) of decentralized finance (DeFi) has hit a 22-month excessive because the broader crypto market witnessed a notable surge.
In accordance with information from Defi Llama, international DeFi TVL has elevated by $27.6 billion since February 1 – from $59.44 billion to $87.12 billion on the time of writing – a stage not seen since Could 2022 .
![DeFi TVL surpasses 22-month high as market turns bullish - 1](https://cnews24.ru/uploads/d17/d17455c6bec71c4aace531fa07552dfe6004b8fa.png)
Defi TVL – February 27 | Supply: Defi Llama
Following the surge, main defi protocol Lido Finance noticed its TVL worth improve by 4% up to now 24 hours. In accordance with Defi Llama, Lido Finance’s TVL at the moment hovers at $31.87 billion, adopted by AAVE with a TVL of $9.24 billion.
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In accordance with a February 26 report, Lido Staked Ether (stETH) surpassed the market capitalization of XRP to turn out to be the sixth largest cryptocurrency. steTH’s market capitalization at the moment stands at $31.27 billion.
You will need to observe that the Ethereum blockchain dominates the defi scene with a world TVL of $50.44 billion, in response to Defi Llama. Protocols for Ethereum (ETH) have racked up practically $15 million in charges up to now 24 hours, information exhibits.
The rise in defi TVL comes as the worldwide crypto market capitalization registered a 7.1% improve up to now 24 hours. In accordance with information from CoinGecko, the full cryptocurrency market cap on the time of writing is $2.23 trillion.
Furthermore, the full every day buying and selling quantity of all digital currencies listed on CoinGecko hovers round $134.91 billion.
Learn extra: Bitwise knowledgeable estimates 50/50 likelihood of Ethereum ETF kink, expects $88k Bitcoin peak in 2024