The digital asset market has experienced significant growth and market activity in recent months. Bitcoin (BTC) has reached a 16-month high, while decentralized finance (DeFi) applications have gained momentum. According to DefiLlama, the total value locked (TVL) on DeFi protocols has soared to $42 billion, marking a three-month high. This surge represents a $6.2 billion increase from two weeks ago when the TVL stood at $35.8 billion.
The rise in market activity can be attributed to the influx of liquidity and increased participation in various DeFi protocols. Altcoins, in particular, have shown notable growth, contributing to the overall market trend. Analysts believe that the surge in BTC price has played a significant role in driving this market growth. However, the price increase of related tokens and inflows from investors seeking rewards have also contributed to the upward trajectory of DeFi protocols.
