It's been a good 12 months for the DeFi ecosystem. Not only did the sector's TVL climb to exponential heights, but its total market cap ($16.5 billion) also overtook that of XRP's ($10.66 billion) recently, according to data from Messari.
In fact, the last few weeks also saw XRP, one of the old stalwarts of the cryptocurrency system, being overtaken by the likes of Polkadot and Cardano on the rankings. While XRP retained the 3rd position on the rankings for the most part of the past few years, the future of the crypto-asset has been in jeopardy since the SEC filed a lawsuit against Ripple for illegal securities offerings.
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