Over the past three months, since November 2023, the total value locked (TVL) in the decentralized finance (DeFi) sector has increased by 68%, reaching $60.55 billion, marking the highest level since August 2022. This growth underscores the resurgence of interest among investors in DeFi, with Ethereum, Tron, and Binance Smart Chain leading in terms of locked funds. Particularly, Ethereum dominates the market with a share of over 58%, equivalent to $35.3 billion.

Growth in TVL is also observed in other networks, including Arbitrum, Solana, and Polygon, with Arbitrum leading the list of L2 networks by locked funds in November 2023. The liquid staking protocol Lido Finance continues to lead among similar projects with a TVL of $22.65 billion, while decentralized exchanges see an increase in daily trading volumes.

Additionally, the DeFi ecosystem is witnessing a recovery in its user base, with the addition of 3.6 million new addresses over the past two months and a total number of wallets approaching 50 million. This recovery comes against the backdrop of a gradual decline in DeFi activity in 2023, making the recent growth in TVL and the recovery of the user base particularly significant for the industry.