The total value locked into the DeFi market has skyrocketed so far this month, reaching an all-time high of $54.75 billion as of Feb. 11.
- DeFi market data tracker DeFi Llama shows that the TVL has soared to new ATHs of over $54 billion amid the rallying market
- MakerDAO is the market’s most dominant protocol, with over $6.3 billion locked in; Aave follows with $5.94 billion locked in
- The market has nearly triple in TVL since Jan. 1, when it was at $20 billion
- Further growth is likely to occur as firms like Grayscale begin to offer DeFi assets in its products
- In all likeliness, the TVL is probably higher — platforms like DeFiPulse do not always accurately reflect market activity and sometimes omits major protocols
- For example, the 1inch team states that its TVL has crossed $2 billion, making it a relevant addition to DeFiPulse, but the latter has not added 1inch to its data platform