The value locked (TVL) in decentralized finance (defi) reached the optimistic level of $50 billion in the first week of April of 2023. After a drop of 4.4% to $42 billion on March 12th, the value has since rebounded due to several prominent protocols such as Lido Finance, Aave, and Justlend recording double-digit monthly gains. Among these, Lido is the largest one with over 21% of the value locked and it grew by 19.75% in March followed by Makerdao with 9.66% growth in the same month.

Notably, the market leader Ethereum hosts a major portion of the TVL with 58.6%, while the market size reflects a vast diversification with smaller parts held individually by Tron (10.69%), Binance Smart Chain (10.15%), and Arbitrum (4.4%). Ethereum’s TVL is currently $29.39 billion and Tron’s is $5.36 billion and both of them recorded a decrease in March, with the protocol Arbitrum seeing 13.93% growth during the same amount of time.

On the other hand, several other protocols saw significant growth. Coinbase Staked Ethereum was up by an impressive 22.29%, while others such as Liquity, Defichain, and Kava rose by 27.12%, 14.84%, and 18.52% respectively. Lastly, decentralized exchanges (dexs) have accumulated close to $7.2 trillion in volume cumulatively with Ethereum leading the way with $4.54 trillion and BSC and Avalanche following with $1.46 trillion and $211.22 billion respectively, almost as much as back in May 2022.

Evidently, the value locked in defi by the beginning of April 2023 stands at an impressive $50 billion, a testament to the immense potential of defi with several protocols contributing to its successful growth.



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