DeFi Soars Toward $100B as Crypto Market Gains Momentum

The total value locked (TVL) in decentralized finance (DeFi) has surged to $94.5 billion, approaching the $100 billion milestone as demand for decentralized financial solutions grows.

Leading the way are protocols like Lido, Aave, and Eigenlayer, each showing double-digit growth. This rise in DeFi’s TVL aligns with recent gains in smart contract tokens, with Ethereum, Solana, and others experiencing notable price increases. Currently, Ethereum dominates DeFi with over 55% of TVL, but contributions from other blockchains like Solana and Bitcoin emphasize a decentralized, multi-chain ecosystem. This upward trend points to DeFi’s increasing role and resilience in the financial landscape.

Clever Robot News Desk 9^th November 2024