DeFi: 13 billion dollars in TVL: it’s a record


Today, the Total Value Locked (TVL) in DeFi set a new absolute record, surpassing $13 billion for the first time.

The curious thing is that this new all-time high comes after a sharp drop in the value of many DeFi tokens, following the bursting of a mini-bubble formed between late July and mid-September. 

The record growth of DeFi’s TVL

An analysis of the TVL curve reveals that until mid-June the increase had not been particularly fast, but from that moment on there was a real surge. 

Before June it had never exceeded 2 billion dollars, while by mid-July it had already risen to 2.5 billion. 

In August it doubled a first time, reaching 5 billion around the middle of the month, and then literally exploded to almost 10 billion at the beginning of September. 

After a brief retracement to 7.8 billion, by mid-September it had surpassed $10 billion for the first time in history, reaching over $11 billion by the end of the month. 

At that point the parabolic growth stopped, so much so that it took almost a month to exceed 12 billion. 

After falling below $11 billion again on November 3rd, it started to grow again, perhaps also thanks to the increase in the value of ETH, so much so that it now exceeds $13 billion for the first time.

The protocol with the largest TVL is still the DEX Uniswap, with 23% of all funds locked on DeFi platforms. 

Uniswap is probably also the largest contributor to the increases in TVL in DeFi over the last two months.

Today, however, also Maker shines. It is the second-highest-ranking DeFi protocol in terms of volume of locked assets, which grew by 4% in a single day. 

WBTC (Wrapped Bitcoin) is in third place, but the increase in TVL has been at a standstill for almost a week due to BTC’s stalled growth in value. 

Compound, fourth in this ranking, has also recorded a significant increase of almost 10% in the last three days, and Aave has also had a similar performance, although its TVL had dropped quite a bit in recent weeks. 

But the most significant increase was that of Synthetix, whose TVL grew by 69% in the last week. 

As the number of ETH and BTC locked on DeFi protocols has not been growing for a few weeks, in these days the overall TVL is increasing thanks to the increase in the value of ETH, which has grown by 18.5% in the last seven days, and perhaps also to an increase in stablecoin tokens locked on these protocols.

According to these data, it would seem that the momentum of DeFi’s decline, following the bursting of the mini-bubble in July and September, may be over for now.



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