Ethereum (ETH) recently gained a significant edge in the decentralized finance (DeFi) sector, capturing 80% of the total value locked (TVL) in this domain. This achievement could contribute to the rise in the blockchain's native token price to a target of $3000, potentially leading to a short-term market squeeze.
In the last 24 hours, the TVL at Ethereum's first layer increased by 231%, reaching $100.31 billion. This growth is also reflected in the statistics for the last seven and 30 days, where TVL increased by 255% and 283%, respectively. These figures, provided by DefiLlama, do not include Ethereum's second layers, such as Arbitrum (ARB), which ranks fourth among DeFi networks with a TVL of $2.62 billion.
Thus, Ethereum's first layer dominates the DeFi ecosystem with an impressive TVL of 80.62%. The total value locked in Ethereum is distributed among 1004 DeFi protocols.
Currently, ETH is trading at $2571, which is 1.8% higher than in the last 24 hours. This year, Ether reached a yearly high of $2714 and a low of $2140. Ethereum's market capitalization has reached $308 billion, which is three times the total value locked in the DeFi ecosystem of the altcoin.
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