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DeFi TVL Reaches 2023 Highs as Lido Liquid Staking Expands Its | Bitcoin News

DeFi TVL Reaches 2023 Highs as Lido Liquid Staking Expands Its Lead

Total
value locked (TVL) in the decentralized finance (DeFi) sector has surpassed $63 billion, with Lido Liquid Staking expanding its TVL beyond $10 billion. Based on data by DefiLlama, this is a record high in 2023 when including the staking market in the DeFi TVL. However, without staking, this is the second time this month that the TVL.

The largest liquid staking protocol, Lido, has expanded its TVL on five chains. It has gained close to 3.6% in the past day, with a dominance of 16.9% in the DeFi market. The TVL of the Decentralized Autonomous Organization (DAO) includes staked tokens on various chains. Lido has the highest presence on Ethereum, with a value breakdown of $10.75 billion. The rest of the liquidity is distributed on Solana, Moonbeam, Moonriver, and Terra Classic. Notably, Lido increased its TVL from $1 billion in April 2021 to $10 billion for the first time in November of the same year.

Source

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