CandleFocus DeFi TVL up 10% in September to $133 billion
2024-10-02
Author: Content Editor
The DeFi ecosystem experienced a 10% increase in total value locked (TVL) across major networks in September, reaching a total of $133 billion. Decentralized exchanges (DEX) and liquid staking protocols were the main contributors to this growth. Solana, Base, Sui, and Aptos saw the largest percentage increases in TVL. Solana's DeFi ecosystem's TVL grew by 17.9%, surpassing $10 billion mainly due to liquid staking protocols and DEXs. On Solana, Raydium and Jupiter showed the most significant monthly growth in TVL. Base, an Ethereum layer-2 blockchain, saw a 51% increase in TVL, reaching over $2 billion for the first time. DEXs and DeFi money market and yield protocols were the primary drivers of growth. Sui and Aptos, both Move-based blockchains, also experienced significant growth in TVL, driven by DEX activity and liquid staking protocols.
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