{"id":162918,"date":"2024-03-11T12:08:33","date_gmt":"2024-03-11T12:08:33","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=162918"},"modified":"2024-03-11T12:19:39","modified_gmt":"2024-03-11T12:19:39","slug":"defi-hits-major-milestone-100-billion-locked-ethereum-dominance-soars","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/defi-hits-major-milestone-100-billion-locked-ethereum-dominance-soars\/","title":{"rendered":"DeFi Hits Major Milestone: $100 Billion Locked, Ethereum Dominance Soars"},"content":{"rendered":"
TL;DR<\/p>\n
Decentralized finance (DeFi)<\/a> is undergoing a significant resurgence<\/a>, reaching $100 billion in total value locked (TVL) for the first time since May 2022.<\/strong> This increase in TVL reflects growing investor confidence, with more participants trusting decentralized financial platforms with their assets.<\/p>\n According to on-chain data from DeFillama<\/strong>, the DeFi sector has experienced a notable 44% increase since January 2024,<\/strong> going from $56 billion to $100 billion<\/strong>. Although this falls short of the previous record of $189 billion set in November 2021, it underscores the growing interest in the DeFi sector. Interestingly, with $100 billion TVL, Decentralized finance now ranks as the equivalent of the 37th-largest bank in the United States<\/strong>, slightly surpassing Deutsche Bank at number 36 with $110 billion in assets.<\/p>\n Ethereum leads the DeFi space<\/strong>, holding a 59%<\/strong> market share. Protocols operating on its network boast a combined TVL of $56.3 billion<\/strong>. Ethereum’s status fuels this dominance as the premier smart contract platform and a significant surge in ETH’s price, which has risen by over 40% since the year’s outset.<\/strong><\/p>\n “While Ethereum can be seen as a decentralized version of the Apple App Store<\/strong>, it provides the underlying platform for a wide variety of applications. These decentralized applications (called ‘dApps’) can range from gaming or identity protocols to digital artwork as well as stablecoins and the tokenization of financial assets,” said crypto asset management firm Grayscale<\/strong>.<\/p>\n <\/p>\nEthereum: Leader of DeFi<\/h2>\n