It has been three years since the "DeFi Summer" started in 2020. Although innovative DeFi projects are still emerging from time to time, since the crypto market entered a bear market in 2022, overall DeFi funds have continued to flow out, with total lock-ups in October this year. Volume (TVL) hit a new low since February 2021.
But now, as the cryptocurrency market picks up, DeFi track projects have surged, and funds seem to be starting to flow back.
UNI surged 15% in two days and once exceeded $7
Over the weekend that just ended, UNI, the leading decentralized exchange, surged 15% to $7.18, setting a new high in the past ten months.
Lido, the leader on the LSD track, has increased by more than 26% in the past seven days, and other projects such as INJ and Cake have also increased by more than 20%.
DeFi’s total locked-up volume began to surge by 17 billion in October
According to data from DefiLlama, the amount of locked positions in DeFi protocols on various chains was less than US$36 billion in mid-October this year. Compared with the high of US$178 billion in November 2021, it can be said to have dropped by more than nearly 36 billion US dollars. 80%.
However, with the main pull of Ethereum, the locked-up amount of DeFi in various chains has returned to US$53 billion so far, an increase of 47% since mid-October.
Currently, "Ethereum" accounts for 52% of the locked positions in the DeFi protocol, with TVL of approximately US$28 billion. The rankings of other chains are: Tron, BSC, Arbitrum and Solana.
Market value increased by 80% since mid-October
Looking at the total market value of DeFi protocols, according to Coingecko data, the total market value of DeFi rose from 42.8 billion to 77.1 billion in just the past 90 days, an increase of 80.1%.
