DeFi Market Soars to $42 Billion, Rises by $6.2 Billion in Just Two Weeks – Is The Bull Market Here Again?
The digital asset market has recorded several wins this month with Bitcoin (BTC) hitting a 16-month high and surging activities around decentralized finance (DeFI) applications.
According to data from DefiLlama, the total value locked (TVL) on DeFi protocols has soared to $42 billion, marking a three-month high, gaining $6.2 billion from its $35.8 billion standpoint two weeks ago.
The whooping $6.2 billion growth in roughly 14 days comes on the heels of renewed market activity as new liquidity gets pumped into the market. This can be seen in increasing activities of most protocols as altcoins continue to climb.
Several analysts have pinned the growth in the market on the rise in the price of BTC although the major factors changing the tide for DeFi protocols are rising prices of related tokens and inflows from investors looking to earn rewards.
Read more on cryptonews.com
