In a rapidly growing DeFi market, monthly TVL growth has turned into a crucial metric for understanding the assessment of a project’s success. As per Phoenix Group, the top DeFi projects in line with per-month TVL growth include $SOLV, $CFG, DEAI, and so on. The on-chain analytics platform provided the list of these projects on its official X account.
TOP PROJECTS BY MONTHLY #TVL GROWTH$SOLV $BB $CFG $FOX $DEAI $GNS $MPL $PSTAKE $EUL $IDLE $FLIP $EQB $LISTA $RAY $ORDER pic.twitter.com/ja4OT6aMLp
— PHOENIX – Crypto News & Analytics (@pnxgrp) November 3, 2024
$SOLV Dominates the Prominent DeFi Projects in Terms of Monthly Growth in TVL
$SOLV has emerged as a leading player among the prominent DeFi projects in terms of monthly growth in TVL. It has witnessed a rise of up to 256% in its total value locked throughout the month. Hence, its TVL has reached $897.1M. After this, $BB gets the 2nd place with a 220% growth in TVL over the month. This has raised the project’s TVL to nearly $14.1M. In addition to this, $BB has a market capitalization of $98.1M.
Subsequently, $CFG obtains the 3rd position in the list with a monthly 137% change in its total value locked. Because of this, it has a significant TVL of $1.2M apart from a market capitalization reaching $98.0M. Following that, $FOX occupies the 4th spot in the list with a 108% increase in TVL. In line with this, its total value locked has touched $35.3K while its market capitalization stands at $34.9M.
The 5th project in the list is $DEAI, witnessing a 103% TVL change over the month. Additionally, it sees $62.7M in market capitalization and $12.5M in its total value locked. $GNS occupies the 6th spot as its TVL has grown by 88.2% during the recent 30 days. With this, its TVL has touched $27.8M along with a market capitalization of $52.8M. The 7th player is $MPL as it has seen a 76.1% rise in TVL at $172.8M apart from a market capitalization of nearly $159.6M.
$IDLE Comes Last with a 42.7% Monthly TVL Rise
The list moves on to incorporate $PSTAKE as the 8th project with its monthly TVL growth touching 74.2%. This brings its TVL to $11.5M while its market capitalization stands at $18.1M. The 9th project is $EUL, with a TVL of approximately $8.7M, showing a 43.9% monthly growth. The 10th entry in the list is $IDLE, which has seen a 42.7% per-monthly TVL growth, raising the figure to $9.1m