Defi market stabilizes, TVL hits $49 billion

At present, as of press time, the total TVL of all Defi platforms is 49 billion US dollars, of which Lido Finance leads, accounting for 24.81%, and 12.24 billion US dollars on Saturday.

Over the past month, Lido’s TVL has increased by 9%, compared to a modest increase of 2.42% in the previous week. In today’s challenging environment, the remaining top five contenders include Makerdao, Aave, Curve Finance and Uniswap; this month, three-quarters of the protocols are down, with the exception of Uniswap, which has risen over the past 30 days 3.48%.

Source: Defillama

Ethereum has the largest TVL market share, worth $28.56 billion, accounting for more than 58.42% of the Defi market cap. After Ethereum there are other contenders such as Tron, BSC, Arbitrum and Polygon with relatively large TVL stats. Tron and Arbitrum recorded monthly gains of 7.77% and 9.98%, respectively. However, BSC was the largest chain to lose TVL, losing 6.52% compared to the previous month.

Source: Defillama

Today, a large amount of ETH worth $16.416 billion (8,550,940 ETH) is locked in liquid staking platforms out of a total value of $49.31 billion locked in the DeFi system. The main liquidity staking platforms on Ethereum are Lido, Coinbase, Rocket Pool, Frax, and Stakewise. Rocket Pool and Frax have impressive 30-day gains of 29.75% and 39.49%, respectively. In addition, Ethereum has the largest number of DeFi applications, with a total of 771 protocols.

While Binance Smart Chain and Polygon’s protocols are right behind Ethereum with 593 and 409 applications respectively, Tron (the second largest Defi blockchain) has only 18 linked protocols. However, Tron has the highest user base among the top 5 defi platforms at 2,538,896. The number of active Ethereum users of its Defi application is about 332,548. While TVL shows signs of improving in 2023, it still falls short of the previous record of $53 billion.


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