The results show that since October 12, the overall TVL has decreased, falling between $53.7 and $53.29 billion. The TVL dropped to $52.22 billion in September, which was its smallest unit since March 2022.
Data from DefilLama reveals that the Ethereum-based MakerDAO continues to be the largest DeFi lending platform across all chains, with a market control of 14.48% and $7.83 billion TVL. With a market worth of $6.11 billion, Lido is the second-largest DeFi lender, followed by Curve Finance with $5.92 billion, Aave with $5.19 billion, and Uniswap with $4.97 billion.
According to DefiLlama, Ethereum continues to have the biggest value frozen, with over $31.2 billion, or slightly more than 57% of the total value locked as of today. Other DeFi protocols that have raised more money than Ethereum include Tron ($5.54 billion), Binance Smart Chain (BSC) ($5.33 billion), and Avalanche ($1.41 billion).
The total worth of all commodities locked within DeFi systems is measured by TVL, to put it simply. Every token placed in any of the DeFi protocols' stake, lending, or liquid pools is included in TVL. In other words, the TVL is a measurement of the money put in smart contracts, and experts closely watch this number as a sign of market trust.
Due to the surge brought on by the bull market that lured a ton of cash during those two years, the total value locked (TVL) in the cryptocurrency sector saw a sharp rise across all DeFi systems. However, everything changed in 2022.
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