DeFi Market Rebounds to $50B as Speculators Hunt for Yield
Summary
Decentralized finance (DeFi) protocols have seen the highest level of capital stakings in six months with $50 billion locked in on Tuesday, a surge of $15 billion since October 13. A factor contributing to this increase includes continuous growth in ether, the primary asset in the DeFi market, which rose 42% since October 13, outperforming the 41% increase of the whole DeFi market. Liquid staking also saw a boost due to Ethereum’s shift to a proof-of-stake blockchain, with two leading companies, Lido and RocketPool, accounting for 45% of the total value locked in DeFi. Increased interest in protocols on Solana also led to a mounting institutional interest, with respective jumps of 60% to 120% on marinfi, Jito, and Marinade Finance.
