As an experienced financial analyst, I find the current surge in the total decentralized finance (defi) market value locked (TVL) to be a noteworthy development. The defi TVL has witnessed an impressive 9.1% increase in the past 24 hours, surpassing the $100 billion mark for the first time since May 11, 2022.
The current growth of the Decentralized Finance (Defi) sector, specifically the total value locked (TVL), is noteworthy as the overall cryptocurrency market experiences a strong uptrend.
Based on Defi Llama’s statistics, there was a 9.1% rise in total Defi TVL within the last 24 hours, reaching a current value of $105.63 billion. Importantly, this marks the first occasion since May 11, 2022, that the Defi market capitalization exceeded the $100 billion threshold.
As a researcher studying decentralized finance (DeFi) protocols, I’ve noticed that out of the 52 protocols with a total value locked (TVL) exceeding half a billion dollars, an impressive 51 of them are currently performing well and showing positive returns.
Among the top 52 decentralized finance (DeFi) protocols, Marinade is currently the only one that has reported a decline in value over the past day. According to Defi Llama, its total value locked (TVL) decreased by 5.4%, amounting to approximately $1.66 billion.
Over the last 24 hours, Lido Finance, the foremost decentralized finance (DeFi) protocol, experienced a noteworthy surge, boosting its Total Value Locked (TVL) by an impressive 17.5%, marking a new record of $34.22 billion for the first time in the past six weeks.
The surge in decentralized finance (defi) Total Value Locked (TVL) occurs concurrently with the global cryptocurrency market experiencing a significant uptick. As reported by CoinGecko, the aggregated crypto market capitalization grew by 7.6% over the last 24 hours, hitting a new high of $2.74 trillion.
According to CoinGecko’s data, the worldwide cryptocurrency trading volume in the past 24 hours grew by an impressive 130% and exceeded the $170 billion threshold.
Usually, high price volatility is expected when the trading volume suddenly surges.
As a crypto investor, I’ve observed that the Bitcoin price broke through the significant resistance level of $70,000 following a six-week period of sideways movement between $60,000 and $67,000.
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2024-05-21 10:00