A massive spike in total value was observed in April 2026, with numerous DeFi projects showing steep month-on-month growth. Statistics indicate that there is a wide range of protocols experiencing double and even triple-digit growth, which is an indicator of reassessed investor confidence and growing on-chain activity.
The recent ranking shows the presence of new platforms, as well as the existing players trying to dominate the liquidity outflow.
TOP PROJECTS PER MONTHLY #TVL GROWTH$RAIN $THQ $in brackets $BIO $BEETS $LV #RockawayX $XLM $CGPT $ZRC $STREAM $EVAA #CAP #API3 $HYPER pic.twitter.com/8JCyn7t3wu
– PHOENIX – Crypto News & Analysis (@pnxgrp) May 1, 2026
First on the list is Rain, which has seen an impressive 379% growth in total value over the past month. While Rain has a relatively small TVL of $3.5 million, the company’s market cap is much more speculative at $3.7 billion, reflecting a high degree of speculative interest as well as rapid liquidity expansion.
Mid-market DeFi projects are showing accelerated adoption
After Rain, THQ came in second with TVL growth of 212%. The project has a locked value of $1.8 million and a market capitalization of $15.2 million. In the meantime, $in brackets has reported a 152% growth rate, supported by a significantly larger TVL of $38.4 million and a market cap of $38.8 million.
$BIO has also done well with 137% growth in TVL. The protocol now has $5.1 million in locked up assets with a market cap of $86.1 million. These figures imply stable capital inflows and increased user involvement in medium-sized resources.
BEETS showed 94.1% growth in TVL to $17.4 million, but market capitalization information is not available. LV, in turn, achieved a growth rate of 76.3%, bringing its TVL to $2.1 million and its market cap to $4.8 million. RockawayX also showed great momentum, growing 74.6% and reaching a TVL of $82.5 million, but its market cap remained unknown.
Protocols for large companies ensure steady growth
Among other prominent protocols, $XLM experienced TVL growth of 49.8%, reaching $23.7 million, with a significant market capitalization of $5.2 billion. CGPT trails close behind with 43.6% growth, clearing a TVL of $2.6 million and a market value of $25.5 million.
ZRC was the one with a significant growth-to-size ratio, with a growth of 30.3%. The protocol currently has $154.3 million in locked assets, a market cap of $3.0 million. $STREAM also reported a 30.1% increase with $5.1 million in TVL and a market cap of $72.1 million.
Emerging DeFi players continue to rise
Further afield, EVAA also performed positively with DeFi growth of 25.2%, TVL of $11.3 million and a market cap of $3.7 million. CAP registered a growth of 24.0% with a much higher TVL of $336.4 million, but its market capitalization was not shown.
API3’s growth was increased by 23.1% using $36.6 million in TVL and a market cap of $54.0 million. $HYPER was the last to complete the list with a growth rate of 22.4%, with a total of $114.5 million in closing value and a market cap of $41.8 million.
DeFi market outlook remains positive
The wide spread of growth in small and large protocols shows a sign of a healthy and growing DeFi. Even as smaller projects like Rain and THQ are listed with spectacular percentage returns, larger platforms like CAP and ZRC continue to attract significant capital flows.
This volatility of both high growth and long-term liquidity is an indication that DeFi is a major source of innovation in the crypto industry. Competition between protocols is likely to increase further as more people delve into decentralized applications and return opportunities arise.
With the current momentum, the coming months may witness even greater capital utilization and diversification across various DeFi platforms.