DeFi TVL Up 20% in 2023, Liquid Staking Leading Markets


Decentralized finance (DeFi) collateral has been increasing since the beginning of the year. The move has mirrored the crypto market rally as confidence slowly returns.


The dollar amount of collateral locked in DeFi protocols has topped $50 billion for the first time in ten weeks. Furthermore, the total value locked (TVL) is up almost 20% since the beginning of the year.  

According to DeFiLlama, TVL is currently at $52.8 billion, its highest level since Nov. 9. Most major DeFi protocols have seen double-digit gains in collateral over the past seven days. Since its cycle low on Jan. 1, around $8.4 billion has returned to the DeFi ecosystem.


However, much of this can be attributed to gains in the underlying crypto assets as markets rally. It should also be noted that DeFi TVL was still 75% down from its peak level in December 2021.


Liquid Staking Leading DeFi

Aside from increasing collateral values, liquid staking derivatives have been driving markets. Lido now has the largest DeFi market share with 14.75% dominance. Furthermore, it is accelerating away from the former king of DeFi, MakerDAO, which has a share of 13.25%.

As reported by BeInCrypto, liquid staking narratives are driving demand for Lido and similar services. This is likely to continue in the run-up to the Shanghai upgrade, which will gradually release staked ETH.  


On Jan. 17, researcher ‘ViktorDeFi’ said that DeFi Prediction Markets are “arguably the most underrated crypto theses for 2023.”

Prediction markets are speculative marketplaces that allow users to make and trade predictions on future events. They can be for real-world events such as sports results, elections, company product sales, etc.

He used a few examples, such as Polymarket, Azuro, and Zeitgeist to demonstrate increasing growth for prediction-based protocols.


Algorand TVL Surging

DeFiLlama also reported that Algorand TVL has spiked over the past week, surging 123%. Algorand is a high-throughput blockchain network with an emphasis on decentralization and scalability.

It currently has $180 million in TVL, with five of the top six leading DeFi protocols on the network having triple-digit gains over the past week. AlgoFi, Folks Finance, the Pact DEX, and GARD have driven major momentum for the ecosystem.  


Ethereum is still the industry standard, with a market share of almost 60% and a TVL of $31.5 billion.

The post DeFi TVL Up 20% in 2023, Liquid Staking Leading Markets appeared first on BeInCrypto.


Source : DeFi TVL Up 20% in 2023, Liquid Staking Leading Markets logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.