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DeFi TVL reaches $13.6B as high-value transactions spike

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  • DeFi TVL has reached another all-time high (ATH) at over $13.6 billion. 
  • The increase in the market valuation comes as transactions worth over $100,000 surged within the past week.

The decentralized finance (DeFi) market has been noting a relatively huge amount of growth in asset valuation since the start of this month. The DeFi TVL (total value locked) dropped from $12.45 billion on October 26 to as low as $11.05 billion on October 31. However, market valuation has risen to over $13 billion after a few drops. The increase comes as high-value transactions in DeFi surged in the past week.

DeFi TVL makes new ATH

According to the decentralized finance tracking platform, DeFi Pulse, the total assets locked in the market are now worth $13.62 billion. The leading decentralized exchange, Uniswap, holds the largest DeFi TVL, with a market dominance of 22.30 percent. The assets locked in the exchange have surpassed $3 billion, making another all-time high record for the year. This comes three days after Cryptopolitan reported the previous ATH at $2.821 billion.

Other protocols with a billion-dollar assets valuation include Maker ($2.31 billion), Wrapped Bitcoin ($1.92 billion), Compound ($1.40 billion), and Aave (1.17 billion). Additionally, there are now about nine protocols with more than $100 million valuations. These include Yearn finance, Curve finance, and Harvest finance, a yield farming protocol that lost about $24 million to hackers during the early stage.

What’s behind the rise in DeFi TVL

It appears that deep-pocketed investors are returning to the DeFi market. In the past week alone, the number of high-value on-chain transactions of at $100,000 increased by 282 percent in the DeFi market. As reported by IntoTheBlock, a cryptocurrency market data aggregator, the DeFi transaction is November 10 alone neared $134 million.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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