The TVL (Total Value Locked) in DeFi has surged by 54%, surpassing $57 billion USD

The TVL (Total Value Locked) in DeFi has surged by 54%, surpassing $57 billion USD, accumulating an additional $20 billion USD over the past 3 months.
Data from Defillama reveals that over the past 93 days, the Total Value Locked (TVL) in DeFi protocols has increased from $37.46 billion USD on October 20, 2023, to the current $57.74 billion USD.
This represents a 54% surge in TVL within the DeFi space. The increase in the value locked in DeFi protocols in 2024 compared to the previous year is substantial. Since October 20, 2023, there has been a remarkable surge of 54.13%, bringing the TVL to an impressive $57.74 billion USD. Lido stands out as the largest protocol in terms of TVL, experiencing a 10.66% increase since the previous month and currently standing at $23.22 billion USD.
Following Lido, Maker, the second-largest DeFi protocol, has seen a slight decrease of approximately 1.52% over the past 30 days, with a TVL of around $8.41 billion USD at the time of reporting. The top DeFi protocols in terms of TVL also include Aave ($7.22 billion USD), Justlend ($6.09 billion USD), and Uniswap ($4.34 billion USD). Aave witnessed a 10.34% increase in TVL over the 30 days, while Justlend experienced a 9.43% decrease.



However, Uniswap has reported the most significant growth among the top 5 protocols, with TVL increasing by 78.56% since the previous month. Among these DeFi applications, four are built on the Ethereum blockchain, with Justlend being the exception as it is a Tron-based protocol. Ethereum continues to dominate the DeFi space, accounting for 57.3% of the total TVL, equivalent to $33.1 billion USD. Tron's TVL of $7.86 billion USD makes it the second-largest blockchain by TVL scale.


Following Ethereum and Tron are Binance Smart Chain (BSC) with $3.5 billion USD, Arbitrum with $2.64 billion USD, and Solana with $1.38 billion USD. Solana has witnessed the highest monthly growth rate at 38.52%. Ethereum follows with a 10.57% increase since the previous month. Tron is the only blockchain experiencing a decrease in the last 30 days, with a 5.44% reduction during the past month. Notable chains showing significant TVL growth alongside the top 5 chains are SUI, MANTA, and APT.
As the DeFi landscape evolves, uncertainty about its future trajectory persists. Despite the robust TVL growth pattern, evident since October 2023, there has been a notable deceleration since January 10, 2024. Such a slowdown may raise doubts about the sustainability of the current growth trend in DeFi. Whether this developing sector can maintain its growth momentum remains an open question, but thus far, it has added an additional $20.28 billion USD in value over the past 93 days.