Major DeFi protocols saw their TVL double in Q1

A joint report by Quicknode and Artemis found that for the first time since 2021, DeFi is truly thriving across all chains.

All of the major DeFi protocols saw their TVL double or even triple during Q1. Specifically, Liquid Staking and Derivatives have already exceeded their previous all-time highs in TVL from 2021.

DeFi has seen 291% growth in active addresses in Q1, surpassing Gaming and NFTs while closing in on Stablecoins. In transaction count, DeFi is the undisputed winner with nearly 7 million daily transactions. Solana and Base had the most explosive growth in active addresses in Q1, representing 45% and 17% of activity respectively.