Decentralized Finance (DeFi) Market Update
The DeFi market continues to show strong performance in 2024, with key players like Aave and Lido leading the way in terms of net deposits and total value locked (TVL).
Aave and Lido Surpass $70 Billion in Net Deposits
- Money market Aave and liquid staking protocol Lido have collectively surpassed $70 billion in net deposits as of December.
- Aave leads with $34.3 billion in deposits, slightly edging out Lido’s $33.2 billion.
- Combined, these two DeFi heavyweights account for 45.5% of the $148 billion allocated to the top 20 decentralized applications.
Total Value Locked (TVL) Rankings
- Lido leads the DeFi ecosystem with a TVL of $33.8 billion, followed by Aave with $20.6 billion.
- TVL represents the total value of assets allocated across all assets in a DeFi protocol.
Revenue Generation and Growth
- Aave’s revenue grew by 27.5% to $12.5 million in the past 30 days, solidifying its position as the 10th largest protocol.
- Lido registered $9.6 million in monthly revenue, with a growth rate of 24%, making it the 12th largest DeFi application by revenue.
DeFi Resurgence in 2024
The DeFi ecosystem has witnessed a resurgence in 2024, with TVL reaching new highs and decentralized exchanges seeing record trading volumes.
Key Metrics and Trends
- TVL soared by 107% to reach $185 billion, peaking at $212 billion on Dec. 16.
- Decentralized exchanges recorded a trading volume of nearly $380 billion in November, setting new records.
- The ratio between decentralized and centralized exchanges hit 13.9% in October, the second-highest level in history.
- Active loans in the lending market peaked at nearly $21 billion, indicating growing comfort with on-chain financial resources.
- The stablecoin market size is approaching $200 billion, fueled by users leveraging their crypto holdings as collateral.
