image credit: Freepik

DeFi markets surge in 2024 as capital inflows drive growth – Binance Research

May 23, 2024


2024 has seen a flood of capital into decentralized finance (DeFi), driving the total value locked (TVL) up by 75.1% year-to-date (YTD) to $94.9 billion from $54.2 billion at the start of the year, according to a report by Binance Research.

This capital boost has benefited nearly every DeFi sector, across both major and niche markets, making previously inaccessible financial primitives available on-chain.

The Yield sector, after a 148.6% increase to $9.1 billion this year, is now the eighth largest DeFi market by TVL. On-chain interest rate derivatives platform Pendle has seen incredible growth this year, up 1962% to $4.8 billion.