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Here are the best performing DeFi categories according to Binance

Publication of Binance, the main exchange platform His report New Top 5 Performing DeFi Categories in 2024 The total value locked (TVL) of the decentralized finance (DeFi) market saw an increase of over 70%.

Binance unveils its report analyzing the decentralized finance (DeFi) market in 2024: exciting but expected data

Leading exchange Binance has had a tough time this year, during which it has faced numerous challenges, from Commodity Futures Trading Commission (CFTC) attacks to the recent security breach, without forget the accusations against its former CEO CZ.

However, despite these challenges, the sector has experienced Decentralized Finance (DeFi) The stock market has seen meteoric growth, with total value locked (TVL) up 75.1%. The DeFi market currently stands at over $94.9 billion in TVL recorded year-to-date. With 5 cryptocurrencies leading the race.

As ETFs hit an all-time high and Bitcoin surpasses its all-time high ATH, the DeFi market has seen a significant influx of capital. There are five areas in particular:

  • On-Chain Interest Rate Derivatives

  • Typical Loans for Digital Currencies

  • Returns on stablecoins

  • And new permanent DEX models

  • Prediction Markets

History of liquid bets (Liquid staking) Over $48 billion TVL with over 169 projects. And he comes right behind her Loans Then Bridges worth $32.7 billion and $25.4 billion TVL, respectively.

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DeFi hits records: Yield derivatives market and stablecoin market lead the rally

The first story that saw the largest increase was the Souq Yield derivatives. The project that took the yield market to eighth place among the biggest stories in the digital financial derivatives market was anything but a project. Arbitrum PendleFi. This market grew by over 148.6% to reach $9.1 billion in TVL.

Also, with a project like AthenaLabs (Ethena Laboratories) which broke all records with the artificial US dollar USDe, the stablecoin market grew to ATH at the same time. It reached over $161.1 billion in TVL.

As for the Money Market project (Money Market), growing by 47.2%, this Base-based project has proven, in just two years, to be the leading solution in decentralized lending and borrowing for cryptocurrencies.

Thanks to its transition from a lending application to a real infrastructure, Morpho Labs (Morpho Laboratories) More than 900 million dollars in just 4 months. Through its numerous recent partnerships, Morpho also provides risk management,... Decentralized autonomous organizations (DAO) and other services that position the project as the future backbone of the development of this rapidly growing market.

The cryptocurrency prediction market has also grown significantly. From monthly volumes of $6 billion in 2023 to over $40 billion in 2024. Polymarket According to Binance, cryptocurrency forecasting solutions could explode as the US elections approach.

Finally, on-chain derivatives are up over 76% this year. A project is coming HyperLiquidX At the top of the list. The unauthorized perpetual DEX has quickly become the preferred choice of traders. This is largely due to its unparalleled fluidity and speed.

In the end, I thrived Open interest in the cryptocurrency market Recently. So this could be Digital currencies The best points to bet on in this race for widespread adoption. Especially since the market is preparing for big movements.

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