The decentralized finance (DeFi) sector appears to be on the road to recovery after a substantial period of stagnation.
The total value locked (TVL) in DeFi platforms dropped from over $50 billion to below $40 billion following the collapse of crypto derivative exchange FTX in November last year.
But data from DefiLlama suggest that the crypto sub-sector is back on track as the overall TVL in DeFi platforms again breached the $50 billion mark.
The TVL of a blockchain represents the total capital held within its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
The overall DeFi TVL hit $51.1 billion on February 16th, the first time it reached that level since the FTX crash. The TVL is now down to $48.78 billion at time of writing.
Lido DAO (LDO) has the highest TVL among the DeFi protocols. The total value locked into the platform is now at $8.67 billion, up by 12.07% from last month. The Ethereum (ETH) staking service also accounts for 17.77% of the total DeFi TVL.
MakerDao (MKR) follows Lido with $7.4 billion in TVL, marking an increase of 5.95% from last month. Curve DAO (CRV) is next with $4.97 billion, up by 13.89% from last month.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
