The total value locked in Ethereum (TVL) has reached an all-time high of $24 billion. This is according to data from DeFi Pulse, which tracks the total value locked in decentralized finance protocols.
The TVL of Ethereum has been increasing steadily since early 2020, but it experienced a major boost in the past few months. This is largely due to the explosive growth of the DeFi sector, which has seen a surge in activity and adoption.
The majority of the TVL is held in stablecoins, which are used to trade on decentralized exchanges and to provide liquidity for lending platforms. The second-largest category is Maker, which is a decentralized lending platform that uses Dai as its native token.
There are now over 200 protocols with active users and over $24 billion worth of value locked in them. This growth is stunning and it shows no signs of slowing down.
It’s becoming increasingly clear that DeFi is one of the most important sectors in cryptocurrency right now.
What Is the TVL of Ethereum?
The TVL of Ethereum is the total value locked in Ethereum-based protocols. As of September 2020, the TVL is over $24 billion.
The majority of this value is held in stablecoins, followed by Maker.