DeFi Is BACK!
DeFi's total TVL has risen by ~25% since the beginning of the year, experiencing a 14% month-on-month growth in November.
Despite being constrained between $45-50B since last December, the current upward trend raises expectations of comfortably surpassing the $50B mark in the coming weeks and months.
Ethereum continues to dominate the field with over 56% of the total TVL, while Tron holds ~16%, and BNB Chain boasts just over 6%. Arbitrum (~4.5%) and Polygon (~1.8%) comprise the rest of the top five chains. Notably, four of the top ten chains by DeFi TVL are Ethereum Layer 2s.
Liquid staking emerges as one of the standout categories, with a TVL of $27B, where Lido is the leading player with over $20B in TVL. The Shanghai Upgrade, facilitating withdrawals of staked $ETH, contributed to Lido's growth from ~$12B in TVL to over $20B.
Other popular categories include lending ($19B), DEXes ($13B), and bridges ($13B)...
