DeFi TVL hits 15-month high of $192 billion

Total locked-in value (TVL) in decentralized finance (DeFi) applications reached $192 billion in May, the highest since February 2022, DappRadar reported. The growth was largely driven by ETH appreciation and increased trading activity. However, despite the rise in TVL, the number of Unique Active Wallets (UAWs) in DeFi fell by 21% to 1.75 million. Ether accounted for 68% of DeFi's market TVL at $130 billion. solana came in second at $5.7% with $10.9 billion. dappRadar said the increase in TVL was mainly due to short-term speculation in ethereum exchange-traded funds (ETFs).