The total value locked (TVL) in decentralized finance (DeFi) protocols has surpassed $100 billion for the first time in nearly two years. On March 5th, the DeFi TVL reached $101.36 billion, with lending accounting for $32.62 billion (32.2%) of this total, decentralized exchanges at $19.97 billion (19.7%), collateralized debt positions at $12.22 billion (12%), and restaking activities at $10.06 billion (9.9%).
The last time TVL in DeFi exceeded $100 billion was on May 11, 2022, according to data from The Block, when it reached $112.67 billion.
“The recent recovery in cryptocurrency asset prices has helped TVL grow in USD terms, but much of the interest has also poured into DeFi with new categories like RWA (real-world asset) and re-staking attracting significant attention, thereby bolstering the amount locked in DeFi protocols,” said Rebecca Stevens, a senior research analyst at The Block.
Meanwhile, staking on Ethereum has also reached a noteworthy high. Over 31.5 million Ether valued at around $115 billion, accounting for 26% of the total Ether supply, has been staked on the Ethereum blockchain.