The decentralized finance (DeFi) market has witnessed noteworthy progress over the past 24 hours. Particularly, Arbitrum chain TVL has jumped to $2.88B as Aave Protocol ($AAVE), USD AI protocol, and Pendle Finance ($PENDLE) are its top DeFi projects when it comes to total value locked (TVL). As per the data from DefiLlama, GMX ($GMX), Uniswap ($UNI), Spiko ($SPIKO), Fluid ($FLUID), Morpho ($MORPHO), Compound ($COMP), and KernelDAO ($KERNEL) are also among Arbitrum’s top 10 DeFi projects. This remarkable DeFi growth highlights the growing risk appetite across the crypto markets.

Particularly, as the top DeFi platform on Arbitrum in terms of TVL, Aave ($AAVE) has successfully reached the $1.01B mark. Hence, the well-known DeFi lending platform occupies a cumulative 27.67% of the overall TVL of Arbitrum. After that, USD AI Protocol ($USDAI), a noteworthy RWA lending project, has gained the 2nd top status on Arbitrum with its TVL reaching $585.10M. This figure reportedly equals 16.03% of Arbitrum’s TVL.

Subsequently, standing in the 3rd rank, Pendle Finance ($PENDLE) accounts for $481.56M. With this, the yield platform has touched 13.19% of Arbitrum’s TVL. Coming after that, GMX ($GMX), which is a renowned decentralized exchange (DEX), has attained the $386.42M spot in TVL. Thus, it denotes 10.59% of the TVL of Arbitrum. The next name on the list is Uniswap ($UNI), with its TVL underscoring the $365.78M figure. As a result of this, the DEX occupies Arbitrum’s 10.02% TVL

Moving on, DefiLlama’s list of Arbitrum-based DeFi projects by TVL adds Spiko ($SPIKO) in the 6th place. Specifically, while touching $232.21M, Spiko underscores 6.36% of Arbitrum’s TVL. Additionally, Fluid’s ($FLUID) $202.13M in TVL places it at the top 7th position as it equals 5.54% share of Arbitrum’s TVL. Apart from that, Morpho ($MORPHO) and Compound ($COMP) account for $139.45M and $129.30M in TVL, expressing 3.82% and 3.54% of Arbitrum’s TVL. At the end of the list, KernelDAO ($KERNEL) occupies $118.63M in TVL, displaying 3.25% of the overall TVL of Arbitrum.

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