Value Locked in Defi Surpasses $40 Billion, Marking Significant Recovery.

Defi Market Bounces Back as TVL Hits $41.42 Billion

Since October 23, TVL in defi has surpassed $40 billion. On Thursday, it reached $41.42 billion, according to DeFillama.com. Ten leading defi protocols by TVL have seen double-digit gains in the past week.

Summer Finance and Aave are at the forefront with profits exceeding 20% ​​during this time. Other significant gainers include Rocket Pool and Lido Finance. TVL in defi was last around this level on August 15, 2023.

Over the 30-day period, nine of the top ten defi protocols by TVL measure posted profits. However, Uniswap recorded a monthly loss of 15.94%. The biggest gainers this month were Aave and Justlend, each gaining around 17.15%.

Of the $41.42 billion total, $20.62 billion was in ethereum, or liquid staking protocol ETH. This represents 49.78% of the current defi TVL, which comes from the ethereum liquid staking market. Additionally, four of the top ten defi protocols focus on lending.

Although TVL in defi has shown an increase, the top 100 defi coins are worth $49.95 billion. In the last 24 hours, this defi token has generated a global trading volume of $41.97 billion. Of the top ten, chainlink, or LINK, saw the biggest increase this week, rising 43.1% against the US dollar.

Lido's DAO token, LDO, rose 22%, and Injective, or INJ, increased 37.7%. Tokens such as SURE, TRB, BOND, and KWENTA have also seen notable gains in the past week. On the other hand, STPT, BNT, NRV and RBN experienced losses ranging from 4% to 13%.

In total, 17 coins of the top 100 defi coins recorded losses this week, despite a broader upward trend in the crypto market.

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