The DeFi space has seen a remarkable surge, with total value locked (TVL) soaring to $94.1 billion, a 72.8% increase in the first six months of the year. This growth spans almost all sectors of the digital asset market, driven by rising institutional interest following the approval of spot Bitcoin ETFs.
Decentralized finance volumes have surged, with a recent Binance report highlighting a TVL rise from $54.4 billion to $94.1 billion. The wider crypto market also rallied to a $2.27 trillion market cap, a 37% year-to-date growth.
Institutional investors have played a key role, with Bitcoin hitting an all-time high above $73,000 before a slight correction. Currently, Bitcoin trades at $67,235, up 6.5% in the last week.
