TVL share of top blockchains
Overall, DeFi TVL recorded a notable increase of 8.8% MoM, breaking its downtrend momentum as participants took more risk driven by the euphoria in the crypto market over the impending approval of spot BTC ETFs. Increasing risk appetite among participants drove several notable growths in DeFi protocols such as JustLend, AAVE, and Compound Finance, which recorded MoM changes of 23.06%, 14.25%, and 12.22%, respectively.
Tron, Arbitrum, and Solana were some of the top gainers in TVL, recording growth of 15.04%, 3.70%, and 17.26%, respectively. The EIP-7540 proposal was also introduced in October and is still in its early stages of discussion. EIP-7540 aims to be an extension to the current ERC-4626 tokenized vault standard, and its approval would ensure the possibility of asynchronous deposits and redemption flows, which could potentially benefit DeFi protocols on Ethereum.
