Value locked in DeFi grows 936% in 1 year, NFT sector strengthens: DappRadar

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Read the full article by Martin Young

The total value locked in DeFi protocols has surged 936% over the past 12 months.

In its Thursday “Value Flow Report,” DappRadar reported that recent trends have seen sizable growth in NFTs and blockchain gaming but that DeFi is also still generating substantial value.

“Although the value flows to some extent from DeFi to NFTs, it appears that both categories are generating value independently.”

DappRadar currently is reporting a total value locked of $114.8 billion, which is an increase of 936% since the same time last year. The report added that the industry’s TVL grew 75% between July 23 and Sept. 5, reaching a peak of $195 billion across all chains.

DappRadar did suggest that using TVL was not a good way to measure the movement of value.

“Whilst TVL is one of the most important metrics to assess the current state of Decentralized Finance, it is not a metric to understand value flow movement. The TVL is completely dependent on the underlying asset, thus, providing a false optic from the value perspective.”
“All in all, it appears that the value in DeFi is growing constantly, whilst NFTs were able to generate a major value flow in August.”