According to DappRadar, the crypto intelligence platform, the total value locked (TVL), in the Decentralized Finance (DeFi) industry surged last months.
TVL is the amount of capital that has been deposited in a protocol’s Smart Contracts. It is used as a way to measure the health of the crypto ecosystem.
DappRadar has released a monthly update with new notes. analysis The combined TVL of the DeFi sector grew by 45% in February to $159 billion, an increase of 45% from the previous months. This is also the highest TVL level recorded by the DeFi sector since May 20,22.
DappRadar is of the opinion that the crypto-sector is still in its infancy. “nascent stages” Its current bull run.
The market has not yet reached the traditional indicators of a peak. For example, the Coinbase App topping the charts in Apple’s AppStore or high-profile crypto ads during the Super Bowl.
DeFi’s core technology and its solutions, despite these speculative elements, are very promising. They hold immense potential for transforming our lives. financial Systems fundamentally. Anticipation of what will unfold next DeFi continues to offer innovative solutions and address existing problems. financial challenges.”
The crypto intelligence tool also noted that the non fungible token (NFT), sector did not experience the same level of growth in February as DeFi. Monthly NFT trading volume was $1.32 Billion, a decrease of 14% from January.
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