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In early July, the defi market was reflected, while the total value locked (TVL) rose to $ 116.416 billion, which is last visible in April. A 24 -hour increase of 4.95% reflects rising krypto asset prices and renewed flow flows into rental protocols, renewing services and primitives carrying revenues.
As Ethereum and Solan Continue to absorb most of the capital defiatus and restore protocols kept Eigenlayer and ether.fi were placed as structural pillars of liquidity on the chain.
At the top of the Defi ranking, Aave regained its position of the dominant money market with $ 25,871 billion in locked value across 18 chains. An increase of 2.62% of the platform by 2.62% reflects the preferences of users for the depth of maturity, scale and liquidity, especially during the period of rising ETH loans. SPIRIT now holds more than 22% of TVL across the defi, exceeds Folk and other alternatives to renewal.
Lending has proven to be one of the most stable categories within the defi, reinforced protocols as Morphwho published 25.35% monthly profit. Morpho’s traction is closely tied to the hybrid structure of peer-to-peer lending and an increase in collateral closures, especially for Steth. Its rapid ascent to $ 4.498 billion in TVL will place it just outside the top 10 and firmly above older competitors like Justind and Pendle.
Meanwhile, Pendle, which allows tokenized fixed income strategies, has seen a monthly increase of 11.71% to $ 4.822 billion. The continuing appetite for the separation of the main and yield and yield, especially in the market with several new primitives, shows permanent demand for the certainty of yield, although the risk of duration remains.
| # | Protocol | Tvl | 1 m to change | MCAP/TVL |
|---|---|---|---|---|
| 1 | SPIRIT | $ 25,871b | +2.62% | 0.16 |
| 2 | Folk | 23,614b | +0.80% | 0.03 |
| 3 | Eigenlayer | $ 12,145B | +7.41% | 0.03 |
| 4 | Binance bet eth | 7.186 $ | +14.16% | – |
| 5 | ether.fi | 6.72 $ | +0.11% | 0.06 |
| 6 | Spark | $ 6,353b | +5.30% | 0.01 |
| 7 | paradise | 5,464 $ | −5,74% | 0.32 |
| 8 | Sky | 5,368 $ | +1.90% | 0.33 |
| 9 | Support | 5.021b $ | +1.56% | 0.92 |
| 10 | Babylon protocol | 4,879 $ | +0.32% | 0.02 |
| 11 | Pendle | 4,822 $ | +11.71% | 0.12 |
| 12 | Morph | 4,498 $ | +25.35% | – |
| 13 | Justlenda | 3,722 B. | +9.88% | 0.09 |
| 14 | Science | 3.58 B. | +35.86% | – |
| 15 | Blackrock buidl | 2.832 $ | −2,32% | 1.01 |
The ecosystem of the Ethereum-Rore-Rotorodian remains one of the few areas in the defication and attracts new capital. Eigenlayer with $ 12.145 billion on TVL has seen an increase of 7.41%over the last month, despite the disposal of parts of its point program. This increase shows its growing role as the basis for collateral for actively proven services (AVS) and shared security mechanisms.
Another player in restivating a niche, ether.fi, maintained his position with $ 6.72 billion, although his 0.11% growth over the last month signals a plateau after rapid accumulation observed in the fourth quarter. Combined, Eigenlayer and Ether.fi now control over $ 18.8 billion, which represents more than 16% of all capital Defi, competing with the entire TVL from the entire Stoh Lido and Trona.
One of the remarkable remote is Ethena, which recorded a 5.74% reduction in TVL to $ 5.464 billion. The increase is likely to reflect the redemption of SUSDE and the declining short -term enthusiasm for the yields from the synthetic dollar after months of explosive growth. With MCAP/TVL now at 0.32, Ethena still holds premium valuation, but the market seems to run on cycling in places of sustainable yield.
Performance Blackrock’s The token buid, while by 2.32% over the course of the month, is a perfect example of a role role in the real world (RWAS) playing in anchoring capital during volatile periods. With the MCAP/TVL ratio 1.01, the fund remains fully supported by tokenized treasures and shows a small deviation in both directions. Bidl’s $ 2.832 billion on TVL makes it the 15th largest defi protocol and the largest tokenized RWA tool.
The marginal drawing reflects the recent weakness in the treasury prices rather than problems with the protocol. With the yield again, climbing to the front end of the curve remains the question of whether the demand for tokenized RWA can exceed the rotation of capital into the higher yield tools in the string.
Last week, the convergence of the bundles of Spot and Perpetual Dex, which landed at $ 13.653 billion and $ 13.084 billion. This parity is unusual because constant markets usually overtake a wide range and may indicate a healthy shift towards security or organic demand for layers.
In previous periods of market euphoria, permanent volumes often inflated, powered by spekulation with lever effect. The current ratio suggests more disciplined capital deployment, which could reflect the influence of larger players and more strategies of the risk of the risk of DEX activity.
Ethereum continues to dominate Defi TV with $ 65.035 billion, which represents more than 55% of the total locked value. Its 1-day (+6.42%) and 7-day (+6.21%) changes show a strong and consistent influx of asset evaluation and migration of deposits back to l1 vaults.
Solana now commands $ 8.768 billion on defined TVL, which is 5.67% 7 -day increase. The chain continues to benefit from the revival of institutional and retail interest, probably supported by the recent SOL ETF approval in Canada and the growing NFT activity. With several of the most powerful farms and yield farms, Solana has increased its share to 7.5%, which is the highest from Q1 2024.
Other networks such as base (+5.40% daily) and Sui (+9.77% daily), published sharp one -day profits, suggesting a new capital rather than just price effects. Although these tides are still modest from dollar conditions, they indicate the directional signal that layer-2 and alt-L1 are beginning to claw attention, especially because the Ethereum fees remain increased.
Stablecoins continue to serve as a latent defi fuel. The total market limit of stablecoins to $ 254.598 billion is more than double the value locked in defi protocols. This ratio of 2.19x indicates considerable dry powder waiting for the transfer, especially if the rates remain attractive and new structured products appear. It also provides a buffer against forced disposal in the case of sudden volatility, as more capital fits in inaction in linked assets than in the active yield strategies.
The first week of July painted a picture of the renewed force for defi, especially in core loans and segment restoration. With the excess of stablecoin, the rivalry of primitives and clear rotation of users back to the protocols with blue chips, the defines seem to enter into the second half of 2025 with a stronger basis than at any point this year.
Contribution Defi tvl breaks over $ 116b because he roars for lending He appeared for the first time Cryptoslate.
