The decentralized finance (DeFi) sector has seen a surge in its total value locked (TVL), a measure of capital deposited in smart contracts.
According to DappRadar, TVL reached $159 billion in February, a 45% increase from January. This marks the highest level since May 2022.
DeFi’s Growth Potential
DappRadar believes the crypto sector is still in its early stages of growth. Despite indicators like increased app downloads and advertising, the core technology and solutions offered by DeFi remain promising.
NFTs Lag Behind
Unlike DeFi, the non-fungible token (NFT) sector did not experience similar growth in February. Monthly NFT trading volume dropped by 14% to $1.32 billion.
