Waves Protocol continues to see significant growth in total value locked (TVL) despite the drop in TVL in DeFi.
One month ago, on February 14, Waves only had nearly $927 million in its TVL, according to DeFi Llama. Today, it is reported that the TVL of this DeFi protocol surpasses $2.3 billion, gained over 2,5x value.
Waves protocol is a blockchain platform aimed at making the development of Web3 decentralized protocols and dApps as well as the launch of smart blockchain-based assets easier. Waves features various applications under stablecoin, decentralized exchange, automated market maker, decentralized lending, and NFT banners, as well as a growing ecosystem.
Neutrino (NSBT), an infrastructure for plug-and-play algorithmic finance, has contributed $1.37 billion in total value locked for the Waves blockchain. Decentralized lending Vires Finance (VIRES) is followed with $796.4M and Waves Exchange with $143.11M.
Waves protocol has overtaken Polkadot, Near, EOS, Cardano, Algorand, and Osmosis in total value locked after hitting $2 billion thanks to the great performance of its dApps.
Waves stated on Twitter that between March 14 and March 18, supporters of the blockchain may expect a huge airdrop. Participants will have the opportunity to earn various Waves-based tokens by participating in easy online activities during this event. Only Telegram community members will be able to take part in the event.
The increased liquidity in TVL has had a good impact on the WAVES token. Its price had peaked at $31 on March 10 and now the token is trading around $25.5.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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