DeFi TVL Surge Raises Questions About Asset Revaluation

The DeFi sector has seen a significant surge in value locked (TVL) over the past month, but it's unclear whether this is due to fresh deployable liquidity or simply revaluation of existing assets.

A snapshot of DeFiLlama's chain data on September 15 showed that Ethereum's dollar-denominated DeFi TVL increased by 21.38% over 30 days, while Solana's saw a 22.94% rise. Stablecoin growth trailed behind, with only a 0.68% increase in Ethereum's stablecoin market cap and a 5.51% rise on Solana.

The native assets of these chains, however, performed much better, with $ETH rising by 32.80% over 30 days and $SOL increasing by 34.67%. This suggests that asset revaluation may be a major contributor to the TVL increase.