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DeFi Total Value Locked Blasts Off to $192,000,000, Records Best Performance in 15 Months
In a new blog post, DappRadar notes that DeFi’s TVL has reached $192 billion, a 17% rise from the previous month and the best it has registered since February 2022.
TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.
According to the crypto analytics firm, the majority of the growth was driven by an increase in token prices, particularly those of smart contract platforms Ethereum (ETH) and Solana (SOL).
“Ethereum holds the bigger portion of the whole DeFi’s TVL, and this month its dominance is at 68%. Followed by Solana, which in the past months has been propelled by memecoin trading and DeFi activity on its network. Moreover, the native SOL token has surged by 11% in the past 30 days.”
