DeFi TVL surpasses $90b for the first time in 3 months

The total value locked in decentralized finance exceeded $90 billion for the first time since August.

According to data provided by DeFi Llama, total DeFi TVL currently stands at $90.23 billion with a transaction volume of $7.13 billion.

The increase comes as five leading protocols recorded gains. The TVL of Lido, the leading liquid staking platform, increased by 0.4% in the last 24 hours, reaching $25.8 billion. Last month, it earned $6.74 million in revenue, including $67.4 million in fees.

The TVL of the largest credit protocol, AAVE, increased by 1.9% to exceed $14 billion.

EigenLayer, ether.fi, and Maker also recorded slight increases, with their TVL reaching $11.2 billion, $6.5 billion, and $6.1 billion, respectively.

DeFi tokens are gaining momentum

With the rise of DeFi TVL, tokens in this sector also gained upward momentum.

According to data from CoinGecko, the total market value of DeFi-related crypto assets increased by 0.4% in the last 24 hours, reaching $78 billion. This represents a 3.1% dominance of the global crypto market.

Daily trading volume currently stands at $4.8 billion.

Lido Staked Ether (STETH) is the leader of the category with a market value of $25.7 billion.

The rise of DeFi TVL and market cap comes as the broader cryptocurrency market builds on the bullish momentum of Bitcoin (BTC). BTC broke the $72,000 mark, triggering market-wide fear of missing out, also known as FOMO.

This pushed the global crypto market capitalization above $2.5 trillion for the first time since late July.