Total value locked in DeFi Hits $205 billion

total value locked in DeFi

On October 13th, the total value locked in decentralized finance protocols rose to nearly $205 billion for the first time. The total value locked in DeFi protocols on various blockchains has risen by roughly 855% from $21.4 billion to today’s $204 billion since January 1.

According to data provided by DefiLlama, the total value locked in DeFi protocols has hit the $205 billion mark. Since late June, this figure has more than doubled. The vast majority of this activity occurs on the Ethereum blockchain, however, several other blockchains are also beginning to embrace DeFi.

Total value locked in Defi
Total value locked in DeFi. Image courtesy of DeFiLama

Total value locked in DeFi is hitting new highs

Total value locked in Defi
The top 10 blockchains in terms of defi total value locked (TVL) per blockchain.

In 2021, we’ve witnessed a substantial increase in adoption, suggesting that DeFi usage has now reached an all-time high – even though well-known crypto experts and traditional finance experts have made numerous attacks on it.

Because DefiLlama examines these standards across many blockchains, the results are rather broad. This comprises big blockchains like Ethereum as well as those newer to DeFi, such as Avalanche and Solana.

The majority of the value is in Ethereum-based projects. DefiLlama believes that $140 billion (roughly 55 percent more than the figure on DeFi Pulse) is presently invested in Ethereum projects. After that, we have Binance Smart Chain with $18.5 billion and Solana with $11.7 billion. The next most significant networks are Terra, Avalanche, and Fantom.

Additionally, DefiLlama has a few scaling networks based on Ethereum blockchain, including Polygon (though more of a sidechain), Arbitrum, and Optimism. The first two have only recently gone live, and they do not yet possess large quantities of value locked in their networks.

Curve DeFi protocol leads the pack

Total value locked in Defi
The top 10 DeFi protocols in terms of defi total value locked (TVL)

The DeFi protocol Curve, which has the most dominance at $15.94 billion, has seen a 7% increase in the last week according to data from defillama.com. On Tuesday, Curve’s influence was 7.80 percent, and it connects with six different blockchains including Avalanche, Ethereum, and Polygon.

In terms of overall trapped value, Aave, Makerdao, and Wrapped Bitcoin (WBTC) are in the third, fourth, and fifth places. Aave has $14.88 billion invested in it. Makerdao’s portfolio is worth $13.48 billion at present, and WBTC holds $11.99 billion in the total value of assets locked.