$100 Billion Blocked in DeFi: Ethereum Controls the Market
The growth of TVL reflects the growing investor confidence in the DeFi industry: more and more participants are willing to store their money on decentralized platforms.
According to the DeFiLlama service, since January 2024, the DeFi sector has grown by 44%, from $56 billion to $100 billion. This figure still falls short of the previous record of $189 billion set in May 2022, but it highlights the growing interest in DeFi products.
With a TVL volume of $100 billion, the DeFi segment could rank 37th in the list of the largest financial companies in the United States, just behind Deutsche Bank, which has assets worth $110 billion in its accounts (as of September 30, 2023, data from the National Information Center at the Federal Council for the Audit of Financial Institutions (FFIEC)).
Ethereum is the leading basic blockchain in the space of decentralized finance. The protocols running on its network control assets worth $56.3 billion. Ethereum's status as a leading platform for smart contracts strengthens its dominant position in the DeFi segment.
Lido is the leader among the protocols. Assets worth $39 billion are blocked in it, which is 39% of all TVL in the DeFi segment.
However, the dominance of Lido may be under threat due to the rapidly gaining popularity of the EigenLayer protocol. It is also deployed on the basis of Ethereum. EigenLayer offers users to use their ETH on multiple platforms at the same time, thereby strengthening the security of these networks. This innovative approach, dubbed "restaking," significantly enhances the resilience of small and developing blockchains by leveraging Ethereum's robust security system.
The amount of funds blocked in the EigenLayer protocol has increased dramatically over the past 30 days. If at the beginning of last month its volume was about $ 2 billion, now it exceeds $ 11 billion.
