DeFi looks vast with $160B in TVL but capital concentrates in a handful of protocols

The DeFi market is stabilizing at $160.56 billion in TVL, but data shows a liquidity split between spot and derivatives, while collateral remains clustered in just a few major venues. Meanwhile, spot, perpetuals, and stablecoin bases are expanding in parallel, suggesting that order flow and collateral are recycled across fewer but more efficient protocols. The The post DeFi looks vast with $160B in TVL but capital concentrates in a handful of protocols appeared first on CryptoSlate.