End of the year data reveals a thrilling climb in the total value locked in decentralized finance (defi), which ballooned by 133.8% over the past year. December capped off this exciting trend with a flurry of activity as defi and onchain protocols amassed more than $1.5 billion in total revenue during the previous 30 days, as reported by Defillama.
Defi Total Value Skyrockets by Over 130% in 2024
Defillama, a top-tier analytics hub and data collector for the defi sector, revealed that stablecoin issuers topped the revenue charts over the past 30 days, raking in $664.12 million. This update was shared by Defillama on Jan. 2, 2025, as the firm noted:
Defi and onchain protocols collected over $1.5b in total revenue over the past 30 days. Of this, over 80% went to Stablecoin Issuers, Chains, Dexes, Telegram Bots, and Launchpads. Stablecoin Issuers alone accounted for 43.7% of revenue.
Defi enjoyed a dynamic expansion throughout 2024, with the total value locked (TVL) surging by 133.8% from $53.369 billion to a hefty $124.773 billion. In the first week of January 2024, the liquid staking leader Lido boasted a TVL of approximately $21.33 billion. Fast forward to today, on Jan. 2, 2025, and that figure has jumped to $33.573 billion. Alongside this growth in TVL, there’s been a notable reshuffling of the top defi protocols.
Back then, the heavyweight champs of TVL were Lido, Makerdao (now rebranded as Sky), Aave, Justlend, and Uniswap. As of January 2025, the leaders are Lido, Aave, Eigenlayer, Ether.fi, and Binance’s Staked Ether protocol.
Sky, once a runner-up, has now slipped to the tenth slot. As of today in 2025, Ethereum holds a dominant 54.82% of the TVL in defi, while Solana holds 7.34% and Tron captures 6.09%. Bitcoin holds the fourth spot, securing 4.5% and $6.669 billion in value locked.
As 2025 begins, the landscape of decentralized finance not only celebrates a remarkable year of growth in 2024 but also positions itself for future innovations. With TVL soaring and revenues reaching new heights in December, defi continues to evolve, reshaping financial ecosystems worldwide.
This dynamic shift suggests a maturing market, ready to welcome broader adoption and deeper integration across varied sectors for years to come.
