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A prominent decentralized finance (DeFi) project, Flamingo Finance ($FLM), saw the highest weekly growth on Total Value Locked (TVL). According to data shared by Phoenix Group, which is derived from DeFiLlama, FLM hit a raised TVL of 153%. With a relatively modest market capitalization of $16.5 million, the protocol now has $15.2 million in locked assets.
$SOLV and $NOTE were two of the top gainers after FLM. Total value locked for $SOLV saw a 51.8% increase and currently stands at $1.1 billion. On the other hand, $NOTE gained 45.2% with $10 million in TVL. The native token of QuickSwap, $QUICK, increased by 44%, taking its TVL to $214.3 million. This showed this project’s traction in their ecosystem increasing activity from the user and liquidity side.
Other protocols also grew, but modestly. Accordingly, $HYPE and $CHESS records weekly increases at 21.2% and 19.8%, respectively. $HYPE currently manages $44.6 million locked in assets while $CHESS controls $134.6 million. The next, Polymarket, followed with an 18% increase in TVL, coming in at $31.2 million which does not seem to have a reported market cap figure in the dataset.
$BLUE, $PENDLE, and $LON also observed TVL growth of 15.4%, 13.3%, 11.8%, and 11.4%, respectively. However, $PENDLE and $LON occupied $4.1 billion and $850,700, respectively, in TVL. Though lower in absolutes, these weekly percentage gains show increased momentum in their protocols.
On the lower end, the TVL changes of $VELO, $XCN, $ENA, $ZEUS, and $MORPHO range from 10% to 6.1%. $VELO’s TVL skyrocketed to $103.6 million, and $XCN’s increased to $136.3 million. Another factor worth noting was that $ENA reported a TVL of $5bn and a 9.2% increase in TVL, while ZEUS and $MORPHO had TVL growth of 6.7% and 6.1%, respectively.
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