Maker

DeFi

Block

Million

Billion

<p>The post <a href="https://coinpedia.org/research-report/defi-report-february-2024/" rel="noopener noreferrer nofollow">DeFi Report February 2024!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency industry experienced a significant uptrend in its valuation during February due to a massive price action in the market. Despite bearish sentiments during the start of the month, top tokens successfully broke out of their respective resistance levels.</p>
<p>As the month was a day away from its completion, the market leader, Bitcoin, successfully achieved the $63,000 mark, resulting in a significant uptrend in other tokens. With the main event, Bitcoin Halving, almost two months away, the BTC price is less than 9% away from its ATH.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/PZH0Sz6Q2fhS6EccTxg90H_TCy51Uhs7vmu1w4cL3_OqsVrwJ-p0nHFhYGam3-yGYShBiBGPcxsfnP21nw68XG5ek8hrT5hvq8zwPNNzj6v4DPs9-32sD-HfVj5lBb5UBPeSt5r7TDgRga3BD6fXTA8" alt="">
</figure>
<p>The Decentralized Finance (DeFi) category followed the market trend and displayed a notable jump in its valuation. The current Total Value Locked (TVL) stands at $187.511 Billion, a change of +55.94% Month-on-Month (MOM), with newer categories experiencing a major surge.</p>
<h2 class="wp-block-heading" id="h-top-decentralized-finance-defi-categories">Top Decentralized Finance (DeFi) Categories!</h2>
<p>The DeFi category has successfully reclaimed the $150 Billion market, highlighting a significant bullish influence in the crypto industry. By achieving its primary target, the Decentralized Finance category is on the path of testing its $200 Billion mark in the coming time.</p>
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/OacVfIlzcHfEGgHkk7y9sk6IFmvRWGB4jk1V1x_3vhDBHM9eFrI8SBC1DzDtpn670GSoHRa-w8PqF5R9elXhZUOC-Q0Zu6cb3lcy6vwxSeOVGPIFfeNKYsZzpJ31Q2aaXM4NJLhnQWDbHC-eQZNkR0c" alt="" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
  Source: DefiLlama
 </figcaption>
</figure>
<p>The newer sub-parts emerging as the top gainers of the category highlight the switch of interests among the investors. This article further contains the top 4 performing sub-parts of this category.</p>
<h3 class="wp-block-heading" id="h-lending">Lending:</h3>
<p>The Lending category is presently valued at $31.571 Billion and has displayed a massive uptrend in its valuation this month. It had started the month with a valuation of $22.811 Billion and has added $8.760 Billion, a change of 38.402%,</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/MU24MfPQzQA5zJt_wLrqMGk2H_Qp5cmvGFvODKjHW_7wakOMLT-HeDKPPot3YAgQhrKjdahipfeoK8tbOp0--eLKZhdX17Ce-HPhimuJXbTToZT2qhhIuYvtZNF2YeaoyirFb5Pisws0u6nCA_soO58" alt="">
 <figcaption class="wp-element-caption">
  Source: The Block
 </figcaption>
</figure>
<p>The Kamioland has recorded the maximum gains on lending with a change of +81.31 over the past 30 days, followed by Spark with a change of 61.52% and LayerBank by adding 47.57% to their respective portfolios.</p>
<h3 class="wp-block-heading" id="h-payments">Payments:</h3>
<p>The Payments category had started the month with a valuation of $306.87 Million and has displayed a significant jump in its valuation by adding $117.88 Million, a change of +38.41%. It is currently valued at $424.75 Million and is on a path to achieve the $500 Million mark in the coming time.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/JRCWTSxAy_0SclFoOY0Z20w3dqlCdgcN9olHtk--k6xN9LRytD7GCZ8IX7W_4kaCz7F0fCfbPxHCRFnn-umZgMwNi3ZVwJUaEFBapa0_1GUoOtw1VSfIcOy7OWU8igYEfMfjo0gMW8zJIw-_4bCt8d0" alt="">
 <figcaption class="wp-element-caption">
  Source: DefiLlama
 </figcaption>
</figure>
<p>Eight out of the top ten tokens have displayed a positive price action, with Pulsar Money recording the highest gains of +1,863%, followed by Super fluid with a change of +635% in valuation. On the other hand, Telcoin has recorded a loss of 78.64% over the past 29 days.</p>
<h3 class="wp-block-heading" id="h-dexes">Dexes:</h3>
<p>The Dexes, on the other hand, had started the month at $14.372 Billion and has added $4.567 Billion, resulting in it currently being valued at $18.939 Billion, a change of 31.77% to its valuation.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/ffrvWikGrzKjfSTq58XKDQjPzyJb2FtpqmDHmgTdbUKOwBPqTHozJAfwC1HJRFgjS2cO-H_Ga6HcwpsyseC3sTKcr08egvdDJ0PZ3ZMvG7oUh76O7np2CbANQJxm-ujvM5kozg-2U4kKKwCbLqO8uCM" alt="">
 <figcaption class="wp-element-caption">
  Source: The Block
 </figcaption>
</figure>
<p>The top performers among the top 10 for this month are Balancer with a change of 48.53%, followed by Curve DEX with a change of +39.13%, and Thorchain with a change of +34.18%. All top 10 tokens have recorded a positive sentiment this month, making it a successful month for the sub-part.</p>
<h3 class="wp-block-heading" id="h-liquid-staking-nbsp">Liquid Staking:&nbsp;</h3>
<p>Liquid staking plays an important role in the DeFi ecosystem and is accountable for 28.5% of the Total Value Locked (TVL). It had started the month with a value of $33.475 Billion, has added $19.972 Billion, and has a present valuation of $53.447 Billion, a change of +59.66%.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/Sb4NDfVfu9fvvn49PDni10Ok1sfFJT36LA_nhe8MI_Kn2K5KtY-HVM3-hJjhL_iilaAR7_qtWEywM6eVXCSKixYUNESQZ7FaHU7kBuAlSO8-nYOoFnsPSXH2nlacMgp49nidJayMQQqUHEWKACRSBsM" alt="">
 <figcaption class="wp-element-caption">
  Source: The Block
 </figcaption>
</figure>
<p>Mantle Staked ETH has recorded the highest gains of 140% Month-on-Month (MOM), followed by Swell Liquid Staking with a change of +97.82% and Stake Store with a change of 75.14% to their respective portfolios.</p>
<h2 class="wp-block-heading" id="h-top-defi-performers-february">Top DeFi Performers February!</h2>
<p>The Decentralized Financial (DeFi) category has successfully concluded the second month positively by adding approximately 56% to its portfolio. Moreover, the recent market pump gives its investors a sign of relief about the prospects of this category.</p>
<p>The EigenLayer has recorded the highest gains with a change of +375.22% this month, followed by Spark with a change of +60.12% and Lido Dao with a rise of +58.60% over the past 29 days. The top 20 from the category have all recorded positive price action, making it successful for the industry.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/v6LBu3gt6xLEmUF7xkP0ZduyXI4OJC4H-eCDGRQZump7hl78TUi2i4VpZTgPxkh0sb_A492AVfjGm0is2nA0paJRhsgrWx4R3yFP8aftZEbnRK5hmyKi9dwDWzFtYnL2Crf44WnCiiu9wlUV9vbbdeM" alt="">
</figure>
<ul>
 <li>Lido Dao (LDO): The LDO token continues to lead the category with a current valuation of $34.171 Billion. It started this month with a value of $21.568 and has added $12.603 Billion, a change of +58.171% over this month.</li>
</ul>
<ul>
 <li>AAVE (AAVE): Aave has recorded a jump of $4.496 Billion, a change of +41.373% over the past 29 days. It had started the month with a valuation of $10.867 Billion and has completed at $34.171 Billion.</li>
</ul>
<ul>
 <li>EigenLayer: It has turned out to be the emerging one of the month with the highest gains among the top 10. It started the month at $2.03 Billion and is presently valued at $9.647 Billion, a change of +375.22%.</li>
</ul>
<ul>
 <li>Maker Dao (MKR): The Maker token loses its third spot on the table despite recording a jump of +22.71% in valuation. The MKR token started the month at $7.718 Billion and is currently valued at $9.42 Billion.</li>
</ul>
<ul>
 <li>JustLend: It has relatively recorded smaller gains when compared to other top tokens, a jump of around $897 Million this month, from $6.204 Billion to $7.101 Billion, a change of +14.45%.&nbsp;</li>
</ul>
<h2 class="wp-block-heading" id="h-conclusion">Conclusion:</h2>
<p>The DeFi category is predicted to achieve a new high this year as it has successfully recorded a massive upswing in the chart. Further, the DeFi category is on a constant rise for the fourth consecutive month, indicating a rise in the inflow of digital assets in the crypto market.</p>
<p>With the present bullish sentiment in the industry, a possible altseason, and Bitcoin Halving around the corner, the upcoming month is predicted to play a significant role in the industry as the top tokens are on the verge of breaking their major resistance level.</p>

DeFi Report February 2024!

Table of Contents

CoinPedia News

Other articles published on Feb 29, 2024

NFT Paris 2024 Review: A Look at What Went Down

Bitcoin ETF Market Breaks Two Records On The Same Day As Inflows And Volumes Surge With BlackRock...

Hong Kong ends license application drive for crypto exchanges

Telegram founder addresses TON holding concerns, Here’s what he suggested

Why Bitcoin Price is Climbing

Bitcoin Rips Up Above $62,000, But Is On-Chain Activity Justifying Rally?

Join our free newsletter for daily crypto updates!