bullish

Hamster Kombat

Lido DAO

EigenLayer

DeFi

The total value locked in decentralized finance protocols has reached its one-month high as the broader crypto market recovers. 
According to data provided by <a href="https://defillama.com/" target="_blank">DefiLlama</a>, the global <a href="https://crypto.news/bridging-tradfi-and-defi-the-opportunities-of-complaint-stablecoins-opinion/" target="_blank">DeFi</a> TVL is currently sitting at $87.3 billion — a level last seen on Aug. 27. The weekly trading volume, however, declined by 2.2% in the last seven days and is hovering at $23 billion. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="866" height="690" src="https://crypto.news/app/uploads/2024/09/Screenshot-2024-09-23-140452.png" alt="DeFi TVL reaches 1-month high, leading protocols surge - 29" class="wp-image-14299251">
 <figcaption class="wp-element-caption">
 Top 10 DeFi protocols – Sept. 23 | Source: <a href="https://defillama.com/" target="_blank">DefiLlama</a>
 </figcaption>
</figure> 
Notably, the DeFi TVL plunged to $75 billion on Sept. 7 for the first time since late February. 
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Data shows that the top 10 leading <a href="https://crypto.news/defi-vs-crypto-what-sets-them-apart/" target="_blank">DeFi</a> protocols have all recorded bullish momentum over the past week.&nbsp; 
Lido’s TVL surpassed the $25 billion mark after a 13% rise in seven days. AAVE witnessed a quite similar movement and its TVL surged to $12.4 billion. EigenLayer secured the third spot with a TVL of $12.2 billion. 
Moreover, Lido DAO (<a href="https://crypto.news/price/lido-dao/" target="_blank">LDO</a>) and Aave (<a href="https://crypto.news/price/aave/" target="_blank">AAVE</a>) — the native tokens of the top two protocols — rose by 1.5% and 7.8% in the past 24 hours, respectively. LDO is currently trading at $1.15 and AAVE surpassed $170. 
Ethena lost the 10th spot to Pendle after its TVL decreased by 3% over the past week. 
The total value locked in DeFi is still down over 50% from it’s November 2021 high near $188 billion. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1552" height="846" src="https://crypto.news/app/uploads/2024/09/Screenshot-2024-09-23-at-1.05.46 PM.png" alt="DeFi TVL reaches 1-month high, leading protocols surge - 30" class="wp-image-14299273">
 <figcaption class="wp-element-caption">
 DeFi TVL, May 2018 – September 2024 | Source: <a href="https://defillama.com/" target="_blank">DeFiLlama</a>
 </figcaption>
</figure> 
The global cryptocurrency market capitalization rose from $2.14 trillion to $2.31 trillion over the past week, according to data from CoinGecko. Most of the gains were <a href="https://crypto.news/neiro-billy-baby-doge-coin-leads-as-fed-delivers-jumbo-rate-cut/" target="_blank">recorded</a> on Sept. 18 as the U.S. Federal Reserve <a href="https://crypto.news/is-the-fed-signaling-a-market-crash-50-bps-rate-cut/" target="_blank">cut its interest rates</a> by 50 basis points. 
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DeFi TVL reaches 1-month high, leading protocols surge

crypto.news

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