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!

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