According to DappRadar’s January industry report, DeFi’s Total Value Locked (TVL) grew 26.82% in January to reach $74.6 billion.
“DeFi Market Showed Signs of Recovery in January 2023” report As TVL recorded a rise in January, it said:
DeFi TVL is currently at an all-time high in the last four months. DeFi TVL dropped to about $50 billion in his November, the lowest in four months, according to data.
Lido Finance became the most widespread DeFi protocol in January. TVL reached $8 billion in his one month period, he recorded an increase of 36.77%.
Blockchain TVL
The Ethereum (ETH) blockchain leads TV volume at $48.6 billion, up 29% from $37.6 billion in December 2022.
BNB Chain (BNB) and Tron (TRX) rank second and third with TVL of $7.1 billion and $5.3 billion respectively. Both chains saw an 18% increase in TVL amounts in December 2022.
Although ranked 7th on the list, Optimism (OP) posted the biggest growth in a month, up 57% from $589 million in December to $821 million in January. It stood out by recording an increase. Kronos (CRO) and Solana (SOL) followed OP as the second and his third chains with the highest growth rates of 53% and 51% respectively.
