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Top 10 DeFi protocols were in green during January

According to the decentralized finance (DeFi) total value locked (TVL) aggregator, DeFi Llama, the total DeFi TVL has reached $47.94 billion, up by 3% in the past 24 hours while hitting a two-month-high.

Top 10 DeFi protocols were in green during January - 1
Source: DeFi Llama

Per the data, the top protocol remains Lido Finance since the early days of 2023. Lido’s TVL sits at $8.19 billion, up by almost 40% in the past 30 days and gained 7.2% over the last week. The liquid staking protocol flipped MakerDAO to stand in the first rank on Jan. 4.

Top 10 DeFi protocols were in green during January - 2
Source: DeFi Llama

Moreover, the top three gainers in the last 30 days are Lido, JustLend and Convex Finance, with 39.98%, 36.95% and 35.27% gains, respectively.

The second-largest protocol, MakerDAO, has also been in the green zone in the last 30 days, with a 22.24% gain in the mentioned timeframe. MakerDAO’s total TVL currently sits at $7.21 billion, up by 1.64% in the past 24 hours.

Furthermore, the top three hikers over the last seven days are JustLend, Curve and Convex Finance, with 16.09%, 10.34% and 7.29% gains, respectively. 

In November 2022, the decentralized exchange (DEX), Curve, saw significant losses after the FTX collapse. Its TVL dropped from roughly $6 billion to $3.6 billion in less than a week but has returned to the $4.78 billion mark at the time of writing.

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