According to the research, the native tokens of many DeFi projects saw more linear growth in price this year. This seems to be dwarfed by the exponential growth seen in the summer of last year.
This is despite the growth of several of the largest decentralized finance projects such as Aave and Sushi. Their tokens quadrupled and sextupled since the beginning of this year alone.
Indeed, the value of DeFi tokens rose, and their use in DeFi products saw a similar rise over the past two months. Total Value Locked (TVL) – a measure of the value of tokens staked in DeFi products – sits at just under $40 billion.
On Feb 22nd, it reached a peak of $45 billion, triple its value at the beginning of the year, according to data from DeFi Pulse.
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