Total value locked on decentralized finance protocols is up nearly 150% so far this year.
Total value locked (TVL) across the decentralized finance (DeFi) ecosystem is approaching highs not seen since 2021, according to data from DefiLlama.
The TVL spike has been driven by the adoption of liquid restaking tokens (LRTs) and the growth of Bitcoin-native layer 2 networks (L2s), the data shows. Rising cryptocurrency prices due to 2024’s bull market also drove TVL higher.
As of Dec. 9, aggregate DeFi TVL stands at upward of $134 billion, marking a nearly 150% increase year-to-date. according to DefiLlama. It still lags 2021’s highs of $170 billion, the data shows.
