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Wahid Pessarlay

DeFi TVL hit the $54 billion mark once more, whereas Algorand hit a brand new all-time excessive

In accordance with knowledge supplied by the main decentralized finance (DeFi) whole worth locked (TVL) aggregator DeFi Llama, the TVL in DeFi protocols has rebounded to the $54 billion mark.

DeFi TVL - Source: DeFi Llama
Supply: DeFi Llama

Per the info, the whole TVL was down — between $53.7 and $53.29 billion — since Oct. 12. It’s vital to notice that in September, the TVL was right down to $52.22 billion, the bottom since March 2021.

At present, the biggest DeFi protocol throughout all chains stays the Ethereum-based MakerDAO with a market dominance of 14.48% and $7.83 billion TVL. 

Algorand hits new all-time highs

The younger proof-of-stake (PoS) blockchain Algorand — initially launched in 2019 — simply hit an all-time excessive (ATH) of $275.15 million, in keeping with DeFi Llama knowledge. 


Moreover, the highest DeFi protocol in Algorand, referred to as Algofi, noticed a virtually 33% improve in its TVL previously 30 days. In accordance with DeFi Llama knowledge, Algofi has a 48% market dominance with a TVL of roughly $133 million.

The brand new milestone has additionally affected Algorand’s native utility token ALGO, giving it a roughly 3% push to the upside. ALGO is buying and selling at $0.33 on the time of writing, according to CoinMarketCap Information.

Final week, Solana’s (SOL) TVL dropped 12.5% to $1.1 billion because of the Mango hack, in keeping with a U.As we speak report. The numbers are nonetheless declining. Solana’s TVL has now plunged to $928 million, per DeFi Llama knowledge.

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