The total value locked across decentralized finance protocols has risen to a two-year high amid the general market rally, according to
At press time, DeFi TVL was $106.45 billion. Assessed on a year-to-date , this has increased by 96% since the beginning of the year.Prior to this period, the protocol’s TVL had plummeted to a two-month low of $27.43 billion. However, as the values of cryptocurrency assets began to rise in the middle of May, Lido’s TVL followed the trend and has since grown by 30%.
Interestingly, Lido’s share of the ETH staking ecosystem has declined. At the time of writing, 28.6% of all ETH deposited to the BeaconChain was made through Lido, per data fromThis decline comes amid a broader trend of decreasing ETH staked across multiple platforms over the past few days.showed that after peaking at a YTD high of 27% on 13t May, the percentage of ETH’s entire supply that has been staked has since fallen by 4%.data showed a rally in its Relative Strength Index since 19 May.