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The decentralized finance total value locked surpassed the $90 billion mark for the first time since August.
According to <a href="https://defillama.com/" target="_blank" rel="noopener noreferrer nofollow">data</a> provided by DeFi Llama, the total <a href="https://crypto.news/pyth-network-expands-defi-reach-with-crypto-redemption-rate-feeds/" target="_blank" rel="noopener noreferrer nofollow">DeFi</a> TVL is currently sitting at $90.23 billion with a trading volume of $7.13 billion.&nbsp;
The surge comes as the leading five protocols register gains. Lido, the leading liquid staking platform, saw its TVL rise by 0.4% in the past 24 hours, reaching $25.8 billion. It generated a revenue of $6.74 million—with $67.4 million in fees—over the past month.
The TVL of the top lending protocol, AAVE, increased by 1.9% and surpassed the $14 billion mark.
EigenLayer, ether.fi and <a href="https://crypto.news/maker-surges-11-bringing-50-of-holders-to-the-profit-zone/" target="_blank" rel="noopener noreferrer nofollow">Maker</a> also registered mild gains, with their TVLs reaching $11.2 billion, $6.5 billion and $6.1 billion, respectively.
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<h2 class="wp-block-heading" id="defi-tokens-gain-momentum">DeFi tokens gain momentum</h2>
With the rise of the DeFi TVL, the tokens in this sector also gained upward momentum.&nbsp;
According to <a href="https://www.coingecko.com/en/categories/decentralized-finance-defi" target="_blank" rel="noopener noreferrer nofollow">data</a> from CoinGecko, the total market capitalization of DeFi-related crypto assets increased by 0.4% in the past 24 hours, reaching $78 billion—showing a 3.1% dominance over the global crypto market cap.
Its daily trading volume is currently at $4.8 billion.
The Lido Staked Ether (<a href="https://crypto.news/price/lido-staked-ether/" target="_blank" rel="noopener noreferrer nofollow">STETH</a>) is leading the category with a $25.7 billion market cap.
The rise of the DeFi TVL and market cap comes as the broader cryptocurrency market builds on Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) bullish momentum. BTC <a href="https://crypto.news/blackrocks-ibit-sees-record-872m-inflow-amid-6-day-bitcoin-etf-streak/" target="_blank" rel="noopener noreferrer nofollow">surpassed</a> the $72,000 mark, triggering a market-wide fear of missing out, also called FOMO.&nbsp;
This pushed the global crypto market capitalization above the $2.5 trillion mark for the first time since late July.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/korean-crypto-investors-reach-7-8m-amid-27-market-cap-increase-report/"> Korean crypto investors reach 7.8m amid 27% market cap increase: report </a>

DeFi TVL surpasses $90b for the first time in 3 months

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