![Pundi X [new]](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2017/10/pundix-logo.jpg&w=20&h=20&q=75){kind=logo}
The DeFi landscape is experiencing a revival, with total value locked surging past $116 billion, levels unseen since April. Ethereum and Solana lead the charge, while AAVE cements its dominance with $25.871 billion locked across 18 chains. Meanwhile, protocols like Morpho are making waves with an impressive 25.35% monthly gain, thanks to its hybrid lending structure. But what surprising strategy is fueling Pendle’s 11.71% rise, setting it apart in a crowded field of yield strategies? Discover the intrigue behind Pendle's unique approach.
DeFi TVL breaks above $116B as lending roars back DeFi TVL breaks above $116B as lending roars back
Ethereum and Solana led all major chains in DeFi inflows, while stablecoin supply now exceeds TVL by more than twofold.
4 min read
Updated: Jul. 4, 2025 at 12:31 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$149.855
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Aave
$281.188
Aave is an open source and non-custodial protocol enabling the creation of money markets.
Lido Staked ETH
$3,603.48
stETH is a token that represents staked ether in Lido, combining the value of initial deposit + staking rewards.
Morpho
$1.34300
Morpho is an open, efficient, and robust platform that enables users to earn yields and borrow assets.
Pendle
$3.36345
Pendle is a protocol that enables the tokenization and trading of future yield.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Ethena Labs
Ethena Labs is a decentralized protocol built on Ethereum, offering a synthetic dollar (USDe) that functions independently of traditional banking infrastructure.
Designed with simplicity in mind, the Uniswap protocol provides an interface for seamless exchange of ERC20 tokens on Ethereum.