Bullish sentiment is skyrocketing in the cryptocurrency market as Bitcoin (BTC) surges to a record high of $67,000, bringing digital assets into undiscovered territory. And investors are watching closely to see how altcoins and DeFi tokens will react to the cryptocurrency.
The DeFi sector also benefited from the spike in BTC, and today the Total Locked Value (TVL) across all DeFi protocols has climbed to new highs.
byinformationFrom DeFi Llama, which collects data from DeFi protocols across all major blockchain networks, including Binance Smart Chain (BSC), Avalanche (AVAX), and Wrap Bitcoin (WBTC), more than $233.88 billion is now locked in. in protocol Through various blockchain networks, AAVE currently leads with $18.79 billion and Curve comes in second with $17.97 billion.
And as a result of the Bitcoin price skyrocketing, WBTC now ranks fourth in terms of TVL, with $14.51 billion being used across DeFi.
The biggest gainers in TVL over the past seven days were Trader Joe, up 57.2%, and Rari Capital, up 50.57 percent, and Yield Yak, up 36.52%.
In addition to the increased token value, the DeFi system saw a significant increase in the influx of new users, and data from Dune Analytics shows that 3,591,876 unique wallets were generated. Interact with one or more DeFi protocols.
But despite the influx of new users But the volume of trading in decentralized exchanges (DEX) remain below May highs And it’s currently lower than the activity seen in the past several months as well.
Another factor contributing to DeFi’s growth is stablecoin growth, with Tether’s market cap recently surpassing $70 billion.
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