DeFi total value locked surpasses $100 billion after April dip

The total value locked (TVL) in decentralised finance (DeFi) has rebounded past the $100 billion mark, reaching $100.6 billion as of late April 2025, recovering from a low of $84.87 billion earlier in the month.  

Data from defillama.com shows this is the first time TVL has crossed $100 billion since March 27, 2025.  

Among the protocols, Aave (CRYPTO:AAVE) led gains with its TVL rising to $19.75 billion, representing 19.63% of the total DeFi market.  

Lido (CRYPTO:LDO) followed closely with $17.03 billion, accounting for 16.93% of the TVL.  

Together, Aave and Lido make up over 36% of the total locked value in DeFi.  

Other protocols like Babylon (CRYPTO:BABY) and Spark (CRYPTO:SPARK) also posted increases, with Spark’s TVL soaring by nearly 97% since late March.  

Conversely, Uniswap (CRYPTO:UNI) and Binance’s Staked Ether platform saw declines ranging from 2% to 4.7%. 

Ethereum (CRYPTO:ETH) remains the dominant blockchain for DeFi, holding 51.24% of the total value locked, equivalent to $51.38 billion.  

Solana (CRYPTO:SOL) 5.12% ranks second with 8.06% or $8.05 billion, followed by Binance Smart Chain at 5.86%, Bitcoin (CRYPTO:BTC) DeFi at 5.65%, and Tron (CRYPTO:TRX) at 5.12%.  

Together, these five blockchains account for nearly 76% of the total DeFi TVL.  

The recovery signals renewed confidence in DeFi’s core sectors, particularly staking and lending platforms, and highlights growing multi-chain participation.  

Despite the TVL growth, Google Trends data indicates public interest in DeFi has declined to levels last seen in December 2024, with Mauritius, Burkina Faso, St. Helena, Haiti, and France showing the most search activity.  

“Aave” remains a related search topic, reflecting its central role in the DeFi ecosystem.