Between June 19 and July 19, the total value locked (TVL) in decentralized finance (DeFi) experienced a significant decline, falling below the $100 billion threshold and reaching a low of $86.3 billion on July 7, 2024.
Between June 19 and July 19, the total value locked (TVL) in decentralized finance (DeFi) experienced a significant decline, falling below the $100 billion threshold and reaching a low of $86.3 billion on July 7, 2024. In the past three days, however, the TVL has rebounded and remained above $100 billion.
Lido Dominates as DeFi TVL Rises 16.85% Since Early July
The TVL in DeFi protocols has seen an upward trend recently, reaching $100.85 billion by July 22. This represents a 16.85% increase since July 7, although it has yet to exceed the $109.66 billion recorded on June 5. According to data from defillama.com, the liquid staking protocol Lido leads all DeFi protocols with a TVL of $33.78 billion.
Eigenlayer, a restaking protocol, comes in second with $15.87 billion, followed by Aave, which holds $13.36 billion. On Monday, the total market value of the top 100 DeFi tokens was $89.5 billion, showing a 1.4% decrease over the past 24 hours.
Coingecko reports that Lido’s staked ether (STETH) holds a 37.8% dominance in the DeFi market on Monday. Chainlink (LINK) follows, with a market valuation of approximately $8.6 billion. Most of the top 100 DeFi tokens have posted gains over the past week.
As the TVL in DeFi remains above $100 billion, the key question is whether this upward trend will continue. The sector has experienced significant volatility over the past month, and while the recent recovery is encouraging, the possibility of another dip below the $100 billion mark cannot be ruled out. Stakeholders will be closely monitoring if the current positive momentum can be sustained and potentially lead to further growth.
