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The decentralized finance (DeFi) market continues to gain prominence, with significant growth throughout this year. According to a recent report from Binance, several positive trends are boosting the sector, benefiting both investors and DeFi projects.

One of the report’s key findings is the substantial inflow of capital into DeFi. In 2024, the total value locked (TVL) increased by 75.1%, reaching the US$94.9 billion mark. This influx of capital has benefited almost every sector within the DeFi ecosystem.

Furthermore, yield markets also experienced remarkable growth, increasing by 148.6% and reaching a TVL of US$9.1 billion. The Pendle project stood out, recording an extraordinary 1,962% growth in TVL during the year, reaching US$4.8 billion.

Another area of ​​innovation was stablecoins. The market value of stablecoins reached US$161.1 billion, the highest in almost two years. Ethena, with its unique delta-neutral strategy, boosted its market cap to $2.4 billion, an increase of 2730.4%. This makes it the 5th largest stablecoin on the market.

Growth of the DeFi sector

Money markets also saw solid growth, increasing by 47.2% and reaching a TVL of US$32.7 billion. Morpho’s modular lending products, Morpho Blue and MetaMorpho, have attracted billions in deposits, capitalizing on demand for more flexible lending products.

Ultimately, prediction markets reached a record $55.1 million in TVL. Polymarket, in particular, saw its monthly volumes rise from $6.1 million in 2023 to $42.0 million in 2024. This growth was driven by activity in markets based on the upcoming US elections.

“The DeFi market is on the rise, with investors and projects benefiting from this decentralized financial ecosystem. DeFi’s promising future continues to attract attention and capital, cementing its position as a vital part of the global crypto landscape,” highlights the Binance report.

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