The total value locked (TVL) in DeFi across the entire network has reached a 15-month high, with Ethereum accounting for 68%

According to DappRadar's report, the TVL of DeFi applications increased by 17% month-on-month in May, reaching $192 billion, a new monthly high since February 2022. The growth was mainly driven by the rise in ETH and an increase in trading activity. Despite the rise in TVL, the number of unique active wallets (UAW) for DeFi decreased by 21%, to 1.75 million. Ethereum accounted for 68% of the total DeFi TVL, reaching $130 billion; Solana's TVL ranked second with $10.9 billion, accounting for 5.7%, up 14% month-on-month. The report stated that the increase in TVL was mainly due to short-term speculation triggered by enthusiasm around Ethereum ETFs.