For the first time since FTX collapse, Defi’s total value surpasses $50 billion

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The crypto market has seen a surge in value in the last few days. The total value locked (TVL), in decentralized finance (defi), has surpassed $50 billion for the first time since FTX’s collapse. The TVL in defi stands at $51.1 billion as of February 16, 2023. Liquid staking protocol Lido accounts for 17.18%.
Ethereum wins Defi with more than 60% TVL, while Tron and Binance SmartChain battle for second place
The market capitalization of top smart contract platform tokens has increased 7% and the cryptocurrency market has gained more than 5% in the last 24 hours. In the same time frame, ethereum rose 6.5%, BNB rose 4.2%, cardano rose 2.4%, and polygon rose 8.3% against U.S. dollars. Solana saw a 3.9% rise, polkadot rose 3.6%, and avalanche gained 5%.
The price increases mentioned have pushed the total value locked (TVL), in decentralized finance (defi), above the $50 billion mark, for the first time since Nov. 8, 20,22. Statistics show that the TVL stands at $51.1 billion with $8.78 billion being held by Lido. Lido, which captures 17.18% of total TVL, is the largest protocol. Makerdao and Curve, Aave and Convex Finance follow the liquid staking protocol.

Ethereum is responsible for more than 60% of total defi value, which amounts to $30.98 trillion. Tron, which holds 10.39% of the total value, is the second-largest Blockchain in terms of TVL size. Binance Smart Chain, (BSC), used to be second in terms of TVL size and now holds 9.57%. The next largest blockchains in TVL, after Tron, Ethereum, and BSC are Arbitrum and Polygon, Avalanche and Optimism. Fantom and Cronos are also on the list.

WBTC and Multichain are the largest protocol bridges by value locked. Justcrypto and Portal are also among them. Uniswap and Curve are the top decentralized exchange platforms (dex), as of February 16, 2023. Over the past 24 hours, $3.7 billion was traded globally on dex platforms. Aave, Venus and Radiant are the largest defi lenders.
What do you think has driven the recent rise in crypto prices and the growth in decentralized finance? And where do you see the industry going in the next few months? Please share your thoughts below.