Recent data from analytics platform CryptoRank shows that liquid staking is the dominant decentralized finance (DeFi) category as measured by total value locked (TVL).
DeFi landscape overview
Liquid Staking is the dominant DeFi category with a TVL of $20 billion. The new DeFi trend, #RWA, showed a TVL increase of 84.6% over the past 30D.
TVL in #DeFi remains heavily concentrated on #Ethereum ($55 billion TVL). pic.twitter.com/g5bvkO7OAr
— CryptoRank Platform (@CryptoRank_io) October 6, 2023
On October 5, CryptoRank and DeFi TVL aggregator DeFiLlama shared an overview of the DeFi landscape, highlighting TVL’s top eight DeFi categories.
According to the data, liquid staking is the dominant DeFi category, with a total value of $20 billion. The top five categories included liquid staking, credit and lending protocols, decentralized exchanges (DEX), bridging protocols and collateralized debt positions (CDP).
Liquid staking topped the list with a total value of $20 billion, followed by lending and borrowing protocols, which had a TVL of $14.8 billion. Number three was DEX, with a TVL of $11.6 billion. Next on the list were bridge protocols and CDP, with a TVL of $9.1 billion and $7.8 billion, respectively.
The list of the top DeFi categories ranked by TVL also included service, yield farming, and real-world assets. Service ranks sixth with a total value of $4.2 billion, followed by yield farming with a TVL of $3.4 billion. Finally, there are real word assets, which CryptoRank described as “the new DeFi trend,” with a TVL of $2.4 billion, up 84.6% in the last thirty days.
In terms of blockchain dominance, the total value captured in DeFi remains heavily concentrated on Ethereum, according to the data. The top three chains are Ethereum, Tron and BNB Chain.
Ethereum ranks first with a TVL of $55 billion, which represents 67.3% of the TVL in the DeFi landscape. Ethereum dominates by a wide margin as the second chain has $6.9 billion.
Number three was BNB Chain, with a TVL of $4.6 billion and a percentage of 5.6, followed by Arbitrum and Avalanche, which had a TVL of $2.8 billion and $1.54 billion, respectively. Ton has 1.74% of the TVL in the DeFi landscape with $1.42 billion, followed by Polygon with a TVL of $1.16 billion. The last two chains on the list were Solana and Optimism, with TVL of $1.37 billion and $902 million, respectively.
General disclaimer: The information in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses arising from the use of said content, products or services. Readers are advised to exercise caution before taking any action regarding the company.