Blockchain

Ethereum’s TVL Soars Over $6 Billion In July

Ethereum's TVL Soars Over $6 Billion In July

The total value of Ethereum locked up (TVL) increased significantly in July as a market recovery saw investors pour more liquidity into decentralized finance (DeFi).

Ethereum's TVL Soars Over $6 Billion In July 5

Ethereum was one of the best-performing blockchain projects in the last month. This blockchain increased 15% of the locked value by the seventh month of 2022.

On July 1, Ethereum had a TVL of about $34.06 billion and skyrocketed to about $40.16 billion on July 31.

Total TVL of Ether. Source: Defi Llama

Ethereum TVL surged in July due to the growth in liquidity pouring into decentralized applications (dApps) within its ecosystem.

MakerDAO (which has the most TVL in Ethereum) has grown by more than 7% in the last month. Lido Finance skyrocketed over 45% in the same period. Convex Finance and Uniswap have seen 37% and 24% improvement in liquidity in total locked value respectively.

Curve also increased by more than 22%. Balancer, Arrakis Finance, and Instadapp also made significant contributions to TVL.

TVL Rankings on Ether chain. Source: Defi Llama

ETH opened on July 1 with a trading price of $1,068.32, reached a monthly high of $1,759.88, tested a monthly low of $1,033.96 and closed at $1,681.52. Altogether, this equates to a 57% increase between ETH’s opening and closing prices in July.

ETH daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.