Decentralized finance (DeFi) protocols experienced a boom in total value locked across different staking pools in January 2023. The market hit $74.6 billion worth of staked assets, increasing by 26% from December.
In its latest monthly report, DappRadar outlined the growth of the DeFi sector alongside rejuvenated nonfungible token (NFT) markets that have also had upticks in trading volume and sales.