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Title How much money is locked up in DeFi?
Category Business --> Financial Services
Meta Keywords DeFi Wallet
Owner Defi Crypto Wallets
Description
Decentralized Finance (DeFi) has emerged as a revolutionary sector within the cryptocurrency landscape, allowing users to engage in financial activities without traditional intermediaries. A critical metric for assessing the health and scale of this ecosystem is the Total Value Locked (TVL), which quantifies the total dollar value of assets staked or locked in DeFi protocols. As of May 2024, the TVL in DeFi reached approximately $192 billion, marking a significant resurgence since the downturn in early 2022.

Understanding Total Value Locked (TVL)Total Value Locked is calculated by summing the value of all digital assets locked in DeFi applications. These assets can include cryptocurrencies and stablecoins used as collateral for loans or to provide liquidity. The metric serves as a barometer for the popularity and security of DeFi platforms; a higher TVL generally indicates greater investor confidence and engagement.TVL can be compared to bank deposits in the traditional finance sector, representing the total amount of funds that users have entrusted to DeFi platforms. This figure fluctuates based on market conditions, user activity, and the performance of underlying assets, particularly Ethereum, which continues to dominate the DeFi landscape.Current State of DeFi TVLAs of June 2024, the distribution of TVL across various blockchains highlights the dominance of Ethereum, which accounts for about 68% of the total TVL. Other notable blockchains include:
  • Tron: Approximately $8.6 billion
  • Binance Smart Chain (BSC): Around $5.6 billion
  • Solana: Close to $4.6 billion
This distribution illustrates the competitive nature of the DeFi space, where multiple blockchains are vying for user attention and liquidity. The growth in TVL is largely attributed to rising token prices, particularly Ethereum, which saw a 25% increase in value leading up to May 2024.

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