The DeFi space was able to reach $12.5 billion in total value locked (TVL) which sets an all-time high (ATH) record.
Despite the market volatility, the DeFi space manages to maintain its momentum. Today, the DeFi market was able to reach a TVL amounting to almost $12.5 billion. This event is a milestone for the DeFi space as it creates a new ATH TVL record. Hence, making the DeFi craze more inviting than before.
In line with this, the DeFi market achievements will not be possible without its decentralized application (DApp) protocols. As seen in the chart above, the top six DeFi protocols provided over billions of TVL. The Uniswap DEX manages to maintain its number one spot. It has a total TVL contribution of 21.63% to the entire DeFi market’s TVL. Hence, making it the highest total locked value in the DeFi world, at the time of writing.
On the other hand, the previous king of DeFi, Aave, is in fourth place. Currently, Aave only gathers $1.13 billion TVL compared to Uniswap’s TVL of $2.68 billion. As a result, it dropped its position behind MakerDAO ($2.12 billion) and WBTC ($1.44 billion).
Aside from the DeFi space, Bitcoin also made a record-breaking event this October. It has broken its resistance level of $12,000, which resulted in the coin to touch $13,000. Hence, increasing the interested investors in and out of the crypto space.
Moreover, the growth of the DeFi space is also the success of the crypto world. This is evidence that the crypto world is now standing stronger than ever before.