Four days ago, the total value locked (TVL) in decentralized finance (defi) was coasting along at $255.84 billion and since then, the TVL has dropped 8.55% in value. During the last 24 hours, the TVL has slid 2.80%, and Curve’s $23 billion locked today represents 9.84% dominance.
Value Locked in Defi Takes a Hit, TVL Down 2.8% in 24 Hours
Since digital currency markets have been dropping in value during the last few days, the value locked in decentralized finance has slipped as well. In four days, the TVL in defi dropped 8.55% from $255.84 billion to today’s $233.95 billion.
Curve Finance holds the largest TVL today and is dominant by more than 9.84% with $23 billion locked. This is followed by Convex Finance, Makerdao, Aave, WBTC, and Instadapp, respectively.
The biggest seven-day drop in terms of a defi protocol’s TVL in the top ten protocols is Lido, which lost 14.03% this week. The decentralized exchange (dex) Uniswap lost 9.44% this week and WBTC shed 7.63% due to bitcoin’s (BTC) downward price drop.
Ethereum still holds the most TVL in defi as far as blockchains are concerned with $147.9 billion on Saturday. Ethereum’s TVL represents 58.18% of the aggregate TVL in defi today.
Ethereum is followed by Terra ($16.61B), Binance Smart Chain ($15.33B), Avalanche ($10.93B), Solana ($10.03B), and Fantom ($5.67B) respectively.
30-day statistics for cross-chain bridges today show the TVL has slipped 10.4%. The top cross-chain bridge with the most TVL on Saturday is Polygon’s TVL with $6.1 billion. This is followed by Avalanche ($5.4B), Ronin ($4.9B), and Arbitrum ($2.8B).
The top six performing smart contract crypto assets during the last seven days include fuse (FUSE), cypherium (CPH), noah decentralized state coin (NOAHP), harmony (ONE), internet computer (ICP), and chainlink (LINK), respectively.
The six worst-performing smart contract crypto assets this week include poa network (POA), gather (GTH), dusk network (DUSK), kadena (KDA), enigma (ENG), and oneledger (OLT).
What do you think about the recent defi action this past week? Let us know what you think about this subject in the comments section below.