The total value locked in decentralized finance protocols has crossed the $500 billion milestone for the first time, signaling mainstream acceptance of on-chain financial services.

Leading Protocols

Aave V4 leads with $85 billion TVL, followed by Lido at $72 billion and MakerDAO at $45 billion. Real-world asset tokenization protocols have emerged as the fastest-growing segment.

Institutional DeFi

Major banks including JPMorgan and Goldman Sachs now operate permissioned DeFi pools for institutional clients, blurring the line between traditional and decentralized finance.