Defi’s 30-Day Rise — TVL Increases by $9.3 Billion With Rocket Pool Leading the Pack

Since October 18, 2023, the aggregate value locked in decentralized finance (defi) has witnessed a substantial augmentation of $9.3 billion within a one-month span. Among the leading ten defi protocols, Rocket Pool, known for its liquid staking services, achieved the most notable growth, soaring by 26.94% during the preceding 30 days.

Defi TVL Swells by More Than 25% Since October 18

Approximately 32 days ago, the total value locked (TVL) in decentralized finance (defi) stood at about $36.38 billion, escalating by $9.3 billion to the present figure of $45.68 billion. This reflects a notable growth of approximately 25.56% in the past month. Data reveals that each of the top ten defi protocols by TVL experienced growth in the last month, with Rocket Pool leading the pack by surging 26.94%.

As of November 19, 2023, Rocket Pool’s TVL surpasses $2 billion, with over 1.02 million ether committed to its liquid staking platform. At the forefront of the defi domain this weekend is Lido, with its dominant position marked by 8.98 million staked ether and a TVL hovering around $17.71 billion.

Over the past month, Lido has seen its TVL swell by 21.76%. The runner-up in terms of TVL size is Makerdao, with $8.14 billion locked, noting a 3.28% increase over the month. Tron’s Justlend follows as the third largest defi protocol by TVL, currently sitting at $5.931 billion. The lending protocol rose by 22.93% this month.

As of November 19, the Ethereum blockchain commands over 54% of the total value locked in defi, while Tron accounts for 17.98%. Binance Smart Chain (BSC) holds approximately 6.47%, with Arbitrum containing 4.56%. The infusion of value into Ethereum’s TVL has leaped to 32.59% this month, with Tron experiencing a 21.92% upturn. BSC has grown by 11.96%, while Arbitrum has seen a 27.11% increase.

Prominent liquid staking platforms today include Lido, STRX, and Binance Staked, while leading collateral debt position (CDP) protocols feature Makerdao, Juststables, and Helio. The top lenders as of this Sunday are Aave, Justlend, and Venus Core, and the foremost real-world asset (RWA) protocols are Makerdao, Stusdt, and Solv v2. In terms of trading volumes, the top decentralized exchanges (dexes) are Uniswap, Pancakeswap, and Thorchain.

The recent expansion in defi, marked by a $9.3 billion rise in TVL, highlights a rising confidence within the sector. Ethereum’s continued dominance, coupled with notable advancements by other blockchains such as Tron, further illustrates the ongoing diversification of the defi ecosystem. Yet, it remains to be seen how long this upward trend will persist and whether the TVL will eventually reclaim the peak levels it previously attained two years ago.

What do you think about the defi action over the last 30 days? Share your thoughts and opinions about this subject in the comments section below.