Despite the ongoing geopolitical issues affecting the space, cryptocurrencies and the DeFi market witnessed a period of substantial growth. For instance, the total value locked (TVL) of tokens in DeFi protocols surged by 357%–amounting to around $255 billion among all blockchains. What’s more, more than $2.5 trillion cryptos were traded in January 2022 alone.
In that sense, crypto lending was acknowledged to be the most dynamic niche. Supporting this detail, more than $35 billion TVL is allotted in DeFi lending protocols with 54% dominated by Ethereum. However, there are still some issues existing in the network relating to speed, cost, and scalability.
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Source: Cryptocurrency - investing.com
