In the quickly evolving virtual currency market, monthly TVL (Total Value Locked) growth has remained a paramount tool for understanding the health (success) of various crypto projects. Today, market analyst Phoenix Group released new data showing the top crypto projects by monthly TVL growth.
Leading Crypto Projects by TVL
Ethena (ENA)
As per the data, Ethena is at the top of the list, meaning it is the digital asset project that recorded the highest increase in TVL over the past 30 days. ENA drew in a whopping 68.2% TVL increase over the period, making its overall total value locked currently standing $9.1 billion. This surge in TVL has been fuelled by increased confidence among investors in the Ethena ecosystem.
Tokenlon (LON)
Tokenlon (LON) made it second on the list. It attracted a 62.9% TVL surge over the past month, making the overall assets locked in its network currently stand at $2.2 million. This growth suggests that the platform is attracting interest from digital asset enthusiasts, possibly due to its advanced offerings.
Centrifuge (CFG)
Centrifuge (CFG) followed with a 56.2% TVL increase, making it third in this list. This remarkable record shows that users are actively pumping money into the Centrifuge network as they seek yield opportunities while storing assets beneath the platform.
Resolv (RESOLV)
Resolv (RESOLV) settled in the fourth spot in this list, with a rise of 53.8% in its TVL. This increase suggests the rising enthusiasm and participation of investors in the Resolv network.
Notional Finance (NOTE)
Fifth on the list is Notional Finance (NOTE), which registered a 51.8% TVL growth, a trend showing more capital is flowing into the protocol.
Other Top Performers in the Market
Other top crypto projects with outstanding monthly TVL growth include RAIL, BLUR, PENDLE, XLM, EIGEN, and others.
Railgun (RAIL) experienced a 47.8% TVL surge over the month. Blur (BLUR) followed with a TVL growth of 46.0% gained over the past 30 days.
Pendle (PENDLE) saw a 44.7% increase. Stellar (XLM) gained a 39.4% rise. Lastly, EigenLayer made it to the top ten category with a 38.6% surge.
The implication is that, in a competitive crypto landscape, the projects mentioned in the data above have established themselves as prominent networks, attracting substantial amounts of assets locked in their respective networks.
