Defi TVL Jumps 12% Since Mid-December, Close to $25B in Bridges, Convex Gains on Curve"s Dominance
The total value locked (TVL) in decentralized finance (defi) has risen 4% during the first four days of the new year from $245 billion on January 1, to $255.84 billion three days later. While the defi protocol Curve Finance dominates with a TVL of $24.44 billion, Convex Finance is closing in on the dominance with $21.27 billion. Meanwhile, out of several blockchains, Ethereum dominates the defi TVL with 62.91% or $160.96 billion out of the aggregate $255.84 billion locked today. Defi TVL Increases 4% During the First 4 Days of 2022
Money is flowing back into decentralized finance (defi) and a number of defi tokens are swelling in value. Statistics from defillama.com show the TVL in defi hit a low of $228.13 billion on December 11 and since then, it’s jumped 12.14% in value. On the first day of 2022, the TVL in defi was $245 billion and it’s increased 4% to date reaching $255.84 billion on Tuesday. Total value locked in decentralized finance (defi) on January 4, 2022.
The $255.85 billion is tallied between numerous blockchains like Ethereum, Terra, Binance Smart Chain (BSC), Avalanche, Solana, Fantom, Tron, Cronos, Polygon, Arbitrum, Harmony, Waves, Ronin, Heco, Thorchain, Near, Smartbch, Elrond, and Osmosis. Top 12 blockchains in terms of defi TVL on January 4, 2022.
Ethereum’s TVL across 383 protocols is $160.96 billion today followed by Terra’s $19 billion across only 14 defi protocols. BSC commands $16.57 billion on Tuesday across 263 defi protocols.
While Terra and BSC are the second and third-largest defi TVLs, they only represent 22.09% of the value locked in Ethereum defi protocols today. Terra has seen a 1.98% TVL increase during the last week, but Fantom jumped 28.96% to $6 billion, and Osmosis spiked 40.43% and crossed the $1 billion zone. Curve Dominates With 9.55% of the TVL in Defi, Fuse Jumps 183%, Top 7 Smart Contract Networks See Weekly Losses
Metrics show that Curve commands the largest TVL in defi today across seven different chains with $24.44 billion and 9.55% dominance amid the $255.84 billion locked. Curve is followed by Convex ($21.27B), Makerdao ($18.28B), Aave ($14.62B), Lido ($12.48B), WBTC ($12.11B), and Instadapp ($10.88B). Top 10 defi protocols in terms of total value locked on January 4, 2022.
Today, the TVL in cross-chain bridges to Ethereum totals $24.67 billion, which represents a 1.5% change in 30 days. The number of unique addresses among the cross-chain bridge TVL in 30 days is 87,855 addresses.
Polygon bridges rank the largest TVL on Tuesday with $6.6 billion, and Ronin has $6.1 billion. This is followed by Avalanche ($5.8B), Arbitrum ($2.8B), Fantom ($1.4B), and Optimism ($538M). The top seven smart contract blockchain platforms by market valuation are all down in value between 3.2% to 12.5% during the last week. The seven smart contract blockchain platforms include Ethereum, Solana, Cardano, Polkadot, Terra, Avalanche and Polygon.
Meanwhile, the eighth through tenth-largest smart contract networks Chainlink (+5.3%), Algorand (+3.2%), and Near (+12.6%) have seen seven-day gains. The biggest smart contract network seven-day gainer this week was fuse (FUSE) jumping 183.6% against the U.S. dollar.
Enigma (ENG) increased 48.8% in seven days and velas (VLX) swelled by 35.7% this week. Velas Network AG just partnered with the Italian luxury sports car manufacturer Ferrari. The largest smart contract platform loser this week was poa network (POA) shedding 49.8% in value, followed by cypherium (CPH) losing 37.8% in seven days. Tags in this story Aave, Arbitrum, Avalanche, Binance Smart Chain, BSC, Cardano, Convex, Cross-chain Bridges, Curve, decentralized finance, DeFi, Defi protocols, Elrond, ETH, ether, Ethereum, Fantom, fuse (FUSE), Harmony, Heco, Instadapp, Lido, makerdao, NEAR, Optimism, osmosis, Polkadot, Polygon, ronin, Smartbch, Solana, Terra, Thorchain, total value locked, TVL, WAVES, WBTC
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. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Report: Decentralized Exchange Volume Surpasses $1 Trillion in 2021, Uniswap Leads the Pack DEFI | Dec 24, 2021 Terra Protocol Surpasses Binance Smart Chain in Terms of Value Locked in Defi DEFI | Dec 22, 2021
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