The Capitalization of the DeFi Market Soared by 12% Last Month
The total worth of decentralized finance protocols’ digital assets rose by 12% from $77 billion to $86 billion last month.
This increase was attributed to improved investor sentiment, resulting in a surge of capital flowing into DeFi projects, according to DappRadar.
Ethereum remains the top network for DeFi protocols, with a total market capitalization of $60.56 billion in November, showing a 20% increase from the previous month.
On the Solana (SOL) blockchain, DeFi projects have accumulated $2.14 billion in digital currencies, experiencing a growth of 75% in November.
The NFT market also saw significant activity, with trading volumes increasing by 125% and reaching close to $1 billion. In the last month, digital collections marketplaces recorded 3.6 million transactions, and the average trade size increased from $126 to $270.
