In recent weeks, decentralized finance (DeFi) protocols have been experiencing a notable surge, with the total value locked (TVL) increasing by $11.89 billion.
The growth has brought the TVL to $94.974 billion today, May 18, as reported by defillama.com. However, one DeFi protocol, Perfectswap, did not perform as expected. The protocol saw a complete decline, with a 100% reduction in its TVL.
Lido Finance, a DeFi protocol by TVL, currently holds around $29.21 billion. The DeFi protocol has increased by 1.49%.
Another protocol, Eigenlayer, reported $15.40 billion today. Apart from these two major DeFi protocols, the rest of the protocols also saw increases in their TVL. MakerDAO’s rose by 7.95%, Justlend’s by 4.95%, and Aave’s increased by 9.22%.
Other smaller protocols also showed positive records, with Zircuit staking by 74.64%, Etherfi at 28.92%, and Jito by 31.86%. However, this positive record in TVL is seen as a renewed confidence within the DeFi sector, thus suggesting market recovery.
Also Read: Tether’s Plan for P2P Financial Markets Terminal
