The total value stored in decentralized finance (defi) has held steady in April at around $50 billion, after an unexpected dip in mid-March. Lido Finance, Aave, and Justlend were among the protocols that have seen double-digit rises in the past month.
Value Locked in Decentralized Finance Stabilizes at $50B After Mid-March Drop
Data from April 2, 2023, shows that the total value locked (TVL) in defi is around $50.22 billion, with a 0.91% rise in the past 24 hours. Lido Finance is the biggest protocol, commanding a TVL of $10.94 billion, and it saw a 19.75% jump in March.
Coming in second is Makerdao, with a TVL of $7.7 billion, a gain of 9.66% last month. Aave’s value locked rose by 16.94% to reach $5.55 billion. Other notable protocols include Curve, Uniswap, Convex Finance, JustLend, PancakeSwap, Coinbase Staked Ethereum, and Instadapp.
Lido’s surge was matched by Coinbase Staked Ethereum which rose by 22.29%, while Rocketpool’s TVL swelled by 18.47%. Other impressive gains in the past month include a 27.12% rise for Liquity, and a 25.78% jump for Bwatch.
Of the $50 billion stored in defi today, 58.6% is held on Ethereum. 10.69% is stored on Tron, 10.15% is kept on the Binance Smart Chain (BSC), and 4.4% is located on Arbitrum. Ethereum’s TVL is $29.39 billion, and Tron’s is currently $5.36 billion.
Ethereum’s and BSC’s TVLs diminished in March, but Tron’s increased 2.8%, and Arbitrum’s TVL swelled by 13.93%. Notable gainers in March include Mixin (+16.32%), Defichain (+14.84%), and Kava (+18.52%).
Optimism’s TVL was decreased by 9.68% during March, and Fantom’s slid 8.87% lower. Polygon and Avalanche also saw TVL decreases in the past 30 days. Ethereum has the most defi protocols with 720, while Tron only has 17. BSC has a total of 568 recorded, and Polygon has 399 defi protocols.
Defillama statistics show that Ethereum-based decentralized exchanges (dexs) have seen $4.54 trillion in cumulative volume. BSC has recorded $1.46 trillion, and Avalanche has seen $215.22 billion to date. Dex trading volume by chain is almost as high as it was in May 2022.
What is your outlook for the value locked in defi? Will we continue to see growth, or could there be another dip in the near future? Share your thoughts in the comments section below.
