Overnight Finance, a decentralized asset management protocol, has surpassed the $100 million mark in total value locked (TVL), reaching $120 million as of November 13, according to DefiLlama data. This marks a significant growth, with a 90% increase on Wednesday alone, positioning it as one of the top-performing DeFi applications this week.

The protocol offers various investment strategies, including stablecoin deposits and delta-neutral strategies, with its flagship product, USD+, accounting for over 95% of its TVL. USD+ has seen substantial growth, particularly on the Base chain, where it holds over $112 million in stablecoins.