The decentralized finance (DeFi) ecosystem has achieved a significant milestone, with total value locked (TVL) across all DeFi protocols globally exceeding $100 billion for the first time since November 2021.
According to DefiLlama figures for March 9th, 2024, the total TVL is an astounding $100.1 billion.
This resurgence in the DeFi industry signals a major rebound, while it remains below the all-time high of $189 billion set in late 2021. The growth in TVL is due to increased interest in Bitcoin and overall cryptocurrency market optimism, with protocols such as Lido, EigenLayer, and Aave leading the way.
The launch of spot Bitcoin ETFs, which has sparked institutional demand, Bitcoin’s ascent to new all-time highs above $70,000, and greater trading activity on cryptocurrency exchanges have all contributed to this DeFi comeback.
As the cryptocurrencycurrency market continues to rise, the DeFi sector’s expansion is viewed as a positive indicator for the future of decentralized financial services.
