The decentralized finance (defi) total value locked (TVL) has been steadily increasing since the beginning of the month, approaching the $70 billion milestone.

According to data from Defi Llama, the global defi TVL has surged by 22% in the last two weeks, reaching $68.99 billion. On Feb. 13, the TVL hit a 20-month high of $69.35 billion, a level not seen since mid-June 2022.

Per Defi Llama, there are currently 40 defi protocols with a TVL of over $500 million, with Lido Finance leading the pack at $25.71 billion.

Defi Stars and Dominance

EigenLayer has emerged as the rising defi star of 2024, experiencing a significant six-fold increase in TVL over the past six weeks. Starting at $1.1 billion on Jan. 1, EigenLayer’s TVL has now reached $6.5 billion.

When it comes to dominance, Ethereum (ETH) maintains its position with a TVL of $40.95 billion, followed by Tron at $8.79 billion.

Decentralized Exchange Volume

Solana (SOL) briefly surpassed Ethereum in decentralized exchange (DEX) volume on Jan. 31, hitting $1.46 billion. However, Ethereum reclaimed the top spot on Feb. 2 after Solana’s DEX volume dropped below $900 million.

Currently, Ethereum’s DEX volume is at $1.41 billion, with Solana following at $780 million.

For more insights and updates on the cryptocurrency market, continue exploring news on Global Crypto News.

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