Following the significant decrease in the overall Total Value Locked (TVL) in the decentralized finance (DeFi) market, questions arise regarding market dynamics and future prospects.
Overall Total Value Locked (TVL) Decline
According to DeFiLlama, the total TVL currently stands at $135.81 billion, reflecting a 3.14% drop over the past 24 hours. However, the long-term outlook remains positive with a steady growth trend since early 2023 after severe downturns in 2022.
TVL Leaders: AAVE, Lido, and EigenLayer
The AAVE protocol leads with $33.64 billion in TVL. Despite a 2.6% drop in value over the day, it posted a 1.05% increase over the week. Lido follows closely with $32.73 billion, seeing a 47% gain over the month. EigenLayer holds its position with $17.51 billion in TVL, characterized by high volatility.
New Players: ether.fi and Ethena on the Rise
The ether.fi protocol, with a TVL near $10 billion, showcases a 58% growth over the past month, despite a 4% drop in a day. Meanwhile, Ethena shows positive daily and weekly changes in TVL, experiencing a 59.66% growth over the month and impressive $13.92 million in 24-hour revenue.
Despite short-term fluctuations in TVL, the overall state of the DeFi market remains resilient. New protocols like ether.fi and Ethena capture attention and demonstrate real results, while established leaders are adapting to new conditions.
