As an analyst with over two decades of experience in the financial markets, I must admit that the recent growth in the crypto and DeFi sectors is nothing short of astonishing. The rapid rise of TVL in DeFi, particularly in leading protocols like Lido, AAVE, and EigenLayer, is a testament to the resilience and adaptability of this burgeoning industry.
Over the past month, the cryptocurrency and decentralized finance industries have experienced significant growth.
Over the past month, as per Defi Llama’s data, I have observed an impressive surge of approximately $47 billion in the Total Value Locked within DeFi. This new peak at $134.7 billion marks a significant milestone, last reached back in May 2022 – a 31-month high for me as an analyst.
Moreover, the DeFi daily trading volume is currently sitting at $16 billion.
In the past month, Lido, the foremost DeFi and liquid staking platform, has witnessed its Total Value Locked (TVL) soar beyond $36 billion following a robust 50% increase. Simultaneously, AAVE, the premier lending protocol, has experienced a TVL of $20.6 billion due to a remarkable 54% surge over the same period.
In the very same period, EigenLayer – the top Ethereum-backed restaking platform – saw a remarkable surge of 64%, bringing its Total Value Locked (TVL) to an impressive $17.1 billion.
The total value locked within Decentralized Finance (DeFi) platforms built on Ethereum (ETH) reached an impressive $72.9 billion, while TRON’s (TRX) DeFi sector stood at approximately $13.6 billion, as reported by DeFi Llama.
According to Matrixport analysts, stated on November 29th, the pro-cryptocurrency stance of President-elect Donald Trump might stimulate the growth of the Decentralized Finance (DeFi) sector in the United States. However, his inauguration isn’t scheduled until January 20, 2025.
Over the past month following the U.S. elections in November, Bitcoin (BTC) and various other cryptocurrencies have shown robust bullish trends, not just in the DeFi sector but across the board. As per CoinGecko’s data, the total crypto market capitalization has surged by a staggering $1.33 trillion over the past 30 days, reaching an unprecedented all-time high of $3.73 trillion at present.
Bitcoin currently has a 51.3% dominance over the broader crypto market, CoinGecko data shows.
The daily crypto trading volume is hovering at $418 billion.
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2024-12-04 14:56