The decentralized finance (DeFi) sector has witnessed significant shifts in total value locked (TVL) as a myriad of projects achieved impressive weekly growth. QuickSwap ($QUICK) took the lead with a staggering 237% weekly increase in TVL, the highest in the market, as per the latest data.
The Phoenix group reported that the TVL on QuickSwap surged to $120.6 million, marking the most substantial weekly surge. Other projects like Alpha ($ALPHA) and Note ($NOTE) also marked considerable progress, growing by 42.3% and 39.5% respectively. THL and Zero ($ZERO) followed closely, with growth rates of 38.3% and 32.4% respectively, thus consolidating their positions in the top rankings.
The DeFi and Liquidity mining sector as a whole displayed robust growth over the past week. DF experienced a 30.4% increase in TVL, followed closely by Aero ($AERO) with a 29.7% gain and Euler ($EUL) which rose by 23.1%. Meanwhile, Maple Finance ($MGP), Inverse Finance ($INV), and ICHI also witnessed TVL increases of 19.6%, 17.0%, and 13% respectively.
QuickSwap notably obtained the greatest TVL growth during the week, as its assets reached $120.4 million. This positions QuickSwap at the forefront of the DeFi market, having achieved the highest TVL growth among the platforms.
Two significant DeFi projects – Alpha Venture DAO and Notional Finance – managed to enhance their TVL growth, reaching a total value locked of $622.2 million and $36.4 million respectively. Simultaneously, Thala Labs and ZeroLend also saw their locked values grow, reaching $130 million and $64.1 million respectively.
Reflecting on the crypto market at large, similar TVL trends are witnessed concurrent with the market’s expansion. QuickSwap’s total market capitalization hit $20.3 million, while Alpha and Note reported values of $36.6 million and $1.1 million respectively. Other projects like Euler and CRV continued to show capitalization growth through their DeFi market influence, reaching $123.5 million and $644.5 million respectively.
The steady increase in total value locked signals that users are progressively dedicating more assets to lending activities, staking assets, and creating liquidity pools through various protocols. This growing trend of DeFi investor diversification is fueling the expansion of on-chain operations. It’s clear to see that the DeFi project TVL is experiencing a record increase, indicative of a changing landscape in platform liquidity distribution.
