CryptoMode DeFi TVL Ethereum BSC SUNC

After a bit of a rough week for all crypto markets, things slowly return to normal. That is good news for fans of decentralized finance or DeFi. The TVL in Ethereum-based protocols is rising again. Maker is on the cusp of surpassing $10 billion in total value locked.

Ethereum DeFi TVL Bounces Back Strongly

Following the recent decline of all crypto assets, there wasn’t too much market excitement. Moreover, this decrease in value affects other metrics, including the total value locked in DeFi protocols. As most protocols support Ethereum and Ethereum-based assets, the overall TVL took a rather big hit over the past week. Thankfully, things are returning to prior levels.

Nearly all Ethereum DeFi protocols note a strong TVL increase. Daily gains can be as high as 30% or as low as 3%, depending on which platform one is looking at. There are now 13 DeFi protocols with over $1 billion in TVL, which is a rather intriguing statistic. Competition keeps heating up in the space, yet there is only so much liquidity to go around at this time.

CryptoMode DeFiPulse TVL

What is even more intriguing is how Maker approaches $10 billion in TVL again. It would be the first time the protocol achieves that level of total value locked, marking an important milestone. It may only be a matter of time until Compound does the same, although it has a bit more work cut out. Currently at $8.9 billion, that last billion in liquidity may prove challenging to find.

As the total Ethereum DeFi TVl surpasses $58.7 billion, the future looks rather promising. Although the all-time high sits well above $60 billion, the recovery process is far from over at this point. The big question is whether many of the more minor protocols and platforms will be able to remain relevant over time. 

Lending Remains The Most Popular

No one will be surprised to learn that lending is the most popular section in Ethereum DeFi today. The top three platforms by TVL all pertain to lending. Moreover, there are five lending protocols in the top eight. Exploring these options will often yield higher returns for users, making them more appealing for yield farmers.

Other than lending, DEXes are of great value to decentralized finance. Not having to rely on centralized exchanges and trading platforms can make cryptocurrency more appealing to onlookers. Uniswap is the king of DEXes – even today – ahead of Curve Finance, SushiSwap, and Balancer. 

Beyond those two categories, there is no outspoken favorite at this time. Derivatives, payments, and asset management are all popular, albeit in a less outspoken fashion. For developers, there are many industry segments to compete today. Hopefully, they will keep building more complex solutions capable of taking decentralized finance to a new level. 


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