Jinse Finance reported that the total locked value (TVL) in decentralized finance (DeFi) applications in May reached $192 billion, the highest since February 2022. The growth is mainly driven by the appreciation of ETH and increased trading activity. However, despite the increase in TVL, the number of active wallets (UAW) in DeFi has decreased by 21% to 1.75 million. Ethereum accounts for 68% of the DeFi market TVL, reaching $130 billion. Solana ranks second with $10.9 billion, accounting for 5.7%. DappRadar attributed the increase in TVL mainly to short-term speculation in Ethereum Exchange Traded Funds (ETFs).