The DeFi sector has experienced a significant increase in both activity and token prices, primarily driven by Bitcoin’s October rally. Central to understanding this landscape is the concept of Total Value Locked (TVL) and decentralized exchange (DEX) volumes, two critical metrics that offer insights into the health and trajectory of DeFi protocols.
TVL, the aggregate value of assets deposited in DeFi protocols, serves as a barometer for sector health and investor sentiment. CryptoSlate analysis found an interesting growth pattern across various chains. Ethereum, the frontrunner with $25.336 billion in TVL, has seen a 31.14% increase over the past month, cementing its dominant position in the DeFi space. Solana, though lower in overall TVL, showed the highest growth rate at 89.31%. Notably, all chains recorded positive growth over the month, indicating a robust expansion across the sector.
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