DeFi TVL moves closer to the $200 billion mark
Total value locked across decentralized finance has reached about $176.9 billion, according to Defillama data, with a 1.07% change over the past 24 hours. The sector is now approaching the $200 billion threshold, underlining the continued expansion of on-chain financial activity across multiple blockchains.
Ethereum still accounts for the largest share of DeFi liquidity, with around $130.07 billion locked. But the broader market is no longer centered on a single chain alone. Binance Smart Chain holds roughly $19.05 billion in TVL, followed by Terra at $7.84 billion, Polygon at $5.34 billion, Solana at $4.3 billion, Avalanche at $2.36 billion, and Klaytn at $1.29 billion. Arbitrum, Ethereum’s scaling network, had also accumulated about $2.34 million in TVL following its mainnet launch, though it remains at an early stage.
DEX and lending protocols continue to dominate activity
At the protocol level, Aave held about $16.04 billion in TVL, while Curve stood at roughly $13.92 billion. Uniswap accounted for about 3% dominance among DeFi applications overall. Within decentralized exchanges specifically, Curve led with $13.92 billion locked, followed by Pancakeswap at $5.94 billion and Uniswap at $5.3 billion.
Dune Analytics data showed that across 16 Ethereum-based DEX platforms, global swap volume reached about $19 billion over the last seven days, including roughly $2.24 billion in the most recent 24-hour period. Uniswap represented around 69.2% of total DEX volume across those platforms, reinforcing its position as Ethereum’s leading exchange protocol.
Users and assets continue flowing into multi-chain DeFi
The number of unique addresses interacting with Ethereum-based DeFi applications has risen to about 3.3 million. In lending, the largest platforms highlighted in the data include Aave, Compound, Anchor, Venus, and Cream Finance. In yield-focused rankings, Convex Finance held the top spot, followed by Yearn Finance, Alpaca Finance, Tranches, and Autofarm.
Among assets locked in DeFi, wrapped bitcoin (WBTC) ranked first with about $10.05 billion in TVL. It was followed by HBTC at roughly $1.74 billion and MIR at around $1.01 billion. The latest figures suggest that while Ethereum remains the dominant DeFi base layer, competing chains are steadily attracting liquidity and users, making the sector increasingly multi-chain.