The decentralized finance sector is witnessing a substantial uptick, with its total value locked (TVL) nearing the $70 billion threshold. Recent data from Defi Llama indicates a robust 22% increase in global DeFi TVL over the preceding fortnight, now valued at approximately $68.99 billion. This growth trajectory culminated on February 13th, achieving a 20-month acme of $69.35 billion, a figure reminiscent of the heights reached in mid-June 2022.

An impressive roster of 40 DeFi protocols now boasts a TVL exceeding $500 million. Lido Finance emerges as the frontrunner, amassing a TVL of $25.71 billion. This financial landscape is also witnessing the meteoric rise of EigenLayer, a platform that has sextupled its TVL within a mere six weeks, soaring from $1.1 billion at the outset of the year to an impressive $6.5 billion.

Ethereum continues to assert its dominance within the DeFi sphere, commanding a staggering TVL of $40.95 billion. Tron trails behind as a noteworthy contender, with an $8.79 billion TVL. Despite a brief interlude on January 31st where Solana surpassed Ethereum in decentralized exchange (DEX) volume, Ethereum swiftly reclaimed its leading position by February 2nd as Solana’s DEX volume declined. Ethereum’s DEX volume is currently reported at $1.41 billion, overshadowing Solana’s $780 million.