According to a report by DappRadar, the TVL of DeFi applications increased by 17% month-on-month in May, reaching $192 billion, a monthly high since February 2022. The growth was mainly driven by the rise of ETH and increased trading activity. Despite the increase in TVL, the number of active wallets (UAW) in DeFi decreased by 21% to 1.75 million. Ethereum accounts for 68% of the overall TVL in DeFi, reaching $130 billion, while Solana's TVL ranks second at $10.9 billion, accounting for 5.7%, a 14% increase month-on-month. The report states that the increase in TVL is mainly due to short-term speculation surrounding the popularity of Ethereum ETFs. (Cointelegraph)
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The total DeFi TVL of the entire network hit a 15-month high, with Ethereum accounting for 68%
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