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The Return of DeFi

BTC's up big, but the resurgence of DeFi's TVL is also a must-watch development right now.

David Christopher
Feb 10, 2024 • 1 min read

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Bitcoin had a standout week, climbing 10% in 7 days and momentarily surpassing $48K, the first time this price has been reached since the introduction of BTC ETFs in the U.S. Also on the rise, though? DeFi’s aggregate total value locked (TVL), which, if you include liquid staking projects, just breached the $100B mark for the first time in roughly two years.

This TVL resurgence can be attributed to a variety of factors, not least among them being EigenLayer’s tremendous recent growth, the blooming of liquid restaking projects, and attractive yield opportunities returning from overall increased activity onchain.

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Written by David Christopher

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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.