As of May 6, 2023, the total value locked (TVL) across all defi platforms has reached $49.31 billion. Lido Finance currently leads the pack with a 24.82% share of $12.24 billion. Over the past month, Lido’s TVL has grown by 9%, while posting a moderate 2.42% increase in the preceding week. This growth has helped Lido to maintain its position as the top defi platform.
Ethereum Dominates Defi Market Cap
Ethereum accounts for over 58% of the defi market cap with $28.66 billion. Other contenders such as Tron, BSC, Arbitrum, and Polygon also boast relatively large TVL statistics. Tron and Arbitrum have recorded monthly gains of 7.77% and 9.98%, respectively. However, BSC stands as the top defi-chain loser in terms of TVL losses from last month with a decrease of approximately 6.52%.
A significant portion of the TVL is locked in liquid staking platforms, with $16.416 billion worth of ETH (8,550,940 ETH) locked in. Lido, Coinbase, Rocket Pool, Frax, and Stakewise are the dominant liquid staking platforms for Ethereum. Rocket Pool and Frax have witnessed impressive 30-day increases of 29.75% and 39.49%, respectively.
In total, there are 771 defi protocols on Ethereum, making it the largest defi ecosystem. Although Makerdao, Aave, Curve Finance, and Uniswap are among the top five defi platforms, three out of these four have experienced monthly downturns. Uniswap is the exception, posting a 3.48% gain over the past 30 days.
The defi market continues to grow and evolve, with new platforms and technologies being developed to meet the needs of users. As more investors enter the space, it is likely that we will see even more growth in the coming months and years.