Ethereum

Defi

2024

The decentralized finance (defi) total value locked (TVL) has been constantly rising since the start of the month and is getting close to the $70 billion mark.&nbsp; 
According to data provided by Defi Llama, the global defi TVL recorded a 22% surge over the past two weeks and is currently standing at $68.99 billion. On Feb. 13, the TVL reached a 20-month high of $69.35 billion — a level last seen in mid-June 2022. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1002" height="401" src="https://crypto.news/app/uploads/2024/02/Defi-TVL-Feb-14.png" alt="Defi TVL reaches 20-month highs with Ethereum dominating the scene - 21" class="wp-image-14248331">
 <figcaption class="wp-element-caption">
 Defi TVL – Feb. 14 | Source: Defi Llama
 </figcaption>
</figure> 
Per the data aggregator, there are currently 40 defi protocols with a TVL of over $500 million with Lido Finance leading the list with a TVL of $25.71 billion.&nbsp; 
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The rising defi star of 2024 is <a href="https://crypto.news/eigenlayer-tvl-6-billion-enters-top-5-defi-protocols/">EigenLayer</a> with a six-times TVL increase over the past six weeks. Per Defi Llama, EigenLayer’s TVL surged from $1.1 billion on Jan. 1 to $6.5 billion at the time of writing.&nbsp; 
Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) is still dominating the scene with a TVL of $40.95 billion, according to Defi Llama, followed by Tron with a TVL of $8.79 billion. 
On Jan. 31, Solana (<a href="https://crypto.news/price/solana/">SOL</a>) <a href="https://crypto.news/solana-arbitrum-ethereum-defi-volumes-sol-price/">flipped</a> Ethereum in terms of decentralized exchange (DEX) volume — reaching $1.46 billion.&nbsp; 
However, Defi Llama data shows that Ethereum gained the top spot on Feb. 2 again after Solana’s DEX volume plunged below $900 million.&nbsp; 
Ethereum’s DEX volume currently stands at $1.41 billion, per the data provider, followed by Solana’s $780 million DEX volume.&nbsp; 
 Read more: <a href="https://crypto.news/xrp-crypto-rally-resistance-market-surge/"> XRP lags in crypto rally, faces key resistance amid market surge </a>

Defi TVL reaches 20-month highs with Ethereum dominating the scene

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