DappRadar Unveils Remarkable Growth: Total Value Locked in DeFi Sector Peaks to 2024 High in January
DappRadar’s latest analysis reveals a noteworthy surge in the decentralized finance (DeFi) sector, with total value locked (TVL) experiencing a 7% increase in January. Reaching an impressive $110 billion—the highest level since 2022.
This surge is attributed in part to a growing optimism about a new bull market, sparking an overall uptick in token prices. A recurring trend from 2023, persisting into 2024, is the launch of new chains offering airdrops. Fueling the narrative around airdrop hunting in the X ecosystem and contributing significantly to heightened activity in the DeFi landscape.
Notably, among the top ten chains, only Ethereum (ETH), Solana (SOL), and Arbitrum (ARB) witnessed increases in TVL in January. With Ethereum leading at 6.2%, Solana at 5.19%, and Arbitrum at 2.24%. Conversely, the decentralized liquidity protocol THORChain (RUNE) experienced the largest TVL slump, decreasing by over 20%.
Clever Robot News Desk 5th February 2024
