The decentralised finance (DeFi) ecosystem has been one of the fastest-growing in the cryptocurrency space, and it just crossed a huge milestone
The DeFi space has experienced massive growth over the past few months, thanks to the adoption within and outside the cryptocurrency space. In fact, the DeFi space now accounts for roughly 10% of the total cryptocurrency market cap.
According to the latest data obtained from tracking site DefiLlama, the total amount locked in decentralised finance protocols is now $200 billion. However, the amazing part of the statistics is that the value has gone up by 100% since June.
The site stated that the total value locked (TVL) in DeFi protocols is $200 billion. The metric refers to the dollar value of the tokens locked in smart contracts within the protocols. Most of the funds are used to offer DeFi services, including lending and decentralised trading.