The DeFi Sector Breaks Through the 10 Billion USD Total Value Locked (TVL) in Mark
- The DeFi sector has seen a huge growth in 2020.
- After taking over two and a half years to reach the 1 billion USD in TVL, DeFi currently sits at over 11 billion USD just in the last few months.
- With TVL on the climb once more, it is almost certain that investors will be bullish on crypto prices, as well.
Over the weekend, the DeFi market saw another strong inflow of investments which further increased its TVL. While the market witnessed an impressive increase at the start of this year, that growth has eased back as of late. However, it appears that things are back on track and DeFi continues to rise, as key exchanges race to list as many DeFi tokens as they can.
Decentralized Finance Continues to Boom.
Only last week, the DeFi market managed to reach a significant mark of 10 billion USD in TVL. Obviously, this included various projects across the whole DeFi sector. However, the rise in locked assets did not halt there, and since reaching this key mark, the TVL managed to grow by another billion.
At the time of publishing, DeFi has more than 11 billion USD in total value locked and is not showing any signs of slowing down.
Some of you may recall this isn’t the first occasion that DeFi has reached this height. The market hit its all-time high in TVL on the 23rd of September. However, a fall in the crypto industry’s prices apparently made a portion of the assets to be pulled out of DeFi, probably with the intention of retaining value.
Since the correction appears to have passed, the DeFi market is making a beeline to the previous highs, and could potentially continue even higher.
DeFi Is on Its Way to the 12 Billion USD in TVL.
As anticipated, the project at the front of the pack is still Uniswap, with 2.03 billion USD in TVL at the time of publishing, with Maker close behind with 1.95 billion USD and Aave in 3rd place with 1.49 billion USD.
The rise of the DeFi market is nothing short of incredible, taking into account that it took over two and a half years to reach its first billion in TVL. In just a few months of 2020, the market exploded, climbing to almost 12 billion USD at its pinnacle.
Furthermore, if the growth continues, it may surpass this level and could go considerably higher before the year is over.