Report: Total Value Locked in DeFi Surpasses $18 Billion
Total value locked (TVL) across all DeFi apps had hit $18.3 billion to begin 2021, 18x the $1 billion figure at the beginning of January 2020. A year later, DeFi Pulse noted in a report by AMBCrypto.
Ethereum's recent rise to above $1,000, on the back of Bitcoin's furious rally above $30,000, is a key factor in this rise in DeFi values, according to Mati Greenspan, Founder of Quantum Economics. However, DeFi did not see much growth especially since October 2020, where TVL stagnated near $9 billion during BTC and ETH rallies, said Dapp Radar. "There was no overall inflow of new assets; rather, the growth is a result of the increasing value of the current asset supply," Dapp Radar added.
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