- Recently launched L2 Blast received deposits worth more than $700M
- Since Oct. 13, ether has added 42% to its value, ahead of the whole DeFi market
Fresh capital inflow and rising asset prices have made the biggest contribution to DeFi market growth. Recently launched L2 blockchain Blast received deposits worth more than $700 million, and the value on some Solana-based protocols gained 120%, CoinDesk reported, citing DefiLlama data.
On Dec. 5, the total amount of capital staked or locked across DeFi protocols reached $50 billion for the first time in half a year as underlying asset value surged and investors pursued a yield on their assets. According to DefiLlama, the total amount of DeFi capital has increased by $15 billion in the last month and a half.
Newly launched L2 project Blast received more than $700 million in deposits from investors and traders even though they can’t withdraw assets until March next year at the earliest.
Ether has gained 42%
Since Oct. 13, ether has added 42% to its value, ahead of the whole DeFi market. Ether is the main asset on this market. Many DeFi platforms offer yields on stablecoins, which are pegged to the dollar, euro, and other traditional fiat currencies.
Transactional volume peaks
The value of transactions has also peaked. In November, more than $5.4 billion changed hands on a single day, the most in over six months. Earlier this year, the DeFi sector underwent a surge after the Ethereum Mainnet moved to proof-of-stake.
Transition to PoS powered liquid staking
The transition powered liquid staking, especially of the protocols RocketPool and Lido. The two account for 45% of the DeFi market's total value locked (TVL). Currently, RocketPool and Lido offer an annual yield of 3.92% resp. 3.7%. Liquid staking gives investors a yield from staking ether while using tokens throughout the DeFi ecosystem.
Mounting interest in Solana
Institutional investors are demonstrating increased interest in Solana, with Solana-based protocols adding an average of 90% to their value in the past month. In November, Solana Trust traded at an 869% premium, and Jito’s 6.96% yield to stakers led to inflows of $327 million since Oct. 13.
Contributors
