Fun

Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum’s Defi Dominance Loses 14%

News Feed - 2022-03-07 01:03:39

Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum"s Defi Dominance Loses 14%


The crypto-economy has been sliding in value during the last 48 hours as the current market valuation for all 13,000+ crypto assets is $1.83 trillion. Furthermore, the total value locked (TVL) in decentralized finance (defi) protocols has slipped below the $200 billion mark to $196.02 billion on Sunday morning (EST). Meanwhile, Ethereum’s dominance is 55.54% of the current aggregate TVL held in defi today with $108.88 billion. Value Locked in Defi Protocols Sink, Ethereum Loses Decentralized Finance Dominance


The value in defi protocols has slipped from the $251 billion mark at the end of December 2021, to today’s current $196.02 billion. That’s a drop of around 21.91% in USD value during the last two months.


On Sunday, March 6, 2022, the current TVL held in defi has increased 0.11% during the last 24 hours with Curve Finance dominating the protocol pack. Curve’s $17.88 billion TVL represents 9.12% of the TVL held in defi, as it increased 0.64% during the last week. Curve is followed by Makerdao ($15.15B), Lido ($12.79B), and Convex Finance ($12.58B). Value locked in decentralized finance (defi) on Sunday, March 6, 2022.


Ethereum still dominates the TVL in defi this weekend, but only by 55.59%, according to defillama.com chain stats. On October 5, 2021, ETH defi dominance was 69% and over the last five months, it shed 14% dominance. Today, Terra holds the second-largest defi TVL with $22.67 billion locked, and more than half locked into the Anchor protocol.


Terra is followed by BSC ($11.71B), Avalanche ($10.74B), and Fantom ($7.69B) in terms of TVL held in defi protocols on Sunday. Solana’s defi TVL this weekend is $6.83 billion down more than 5% during the last seven days.


At press time, there are 381 decentralized exchange (dex) platforms holding a combined TVL of around $64.65 billion. Coingecko.com data shows Uniswap v3 is the top dex this weekend with $856.6 million in 24-hour volume.


Uniswap v3 is followed by Pancakeswap ($317M), Spookyswap ($270M), Curve ($155M), and Astroport ($155) in terms of daily dex volumes. The top three leading smart contract platform tokens in terms of seven-day gains include waves (WAVES) up 51% this week, lisk (LSK) up 28.9% and wanchain (WAN) jumped 23.6%.


On March 6, there’s currently $23.37 billion total value locked in cross-chain bridges to Ethereum, according to Dune Analytics’ metrics. Leading cross-chain bridge TVLs include blockchains like Avalanche, Polygon, Fantom, Ronin, and Arbitrum respectively.


Presently there are 25 decentralized finance (defi) oracles and Chainlink dominates the pack. Chainlink secures $52.23 billion in value across 141 protocols, as it has an oracle dominance of around 54.83% on Sunday morning. Tags in this story Aave, Arbitrum, Avalanche, Balancer, Binance Smart Chain, blockchains, Bridges, BSC, Chains, Curve, decentralized exchange, decentralized finance, DeFi, Defi Blockchains, Defi Total Value Locked, Defi TVL, defillama.com, DEX, Dex Platforms, ETH, Ethereum, LUNA, Pancakeswap, Protocols, Solana, Sushiswap, Terra, total value locked, TVL, uniswap


What do you think about the activities tied to the decentralized finance (defi) space? 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. Value Locked in Defi Rebounds — Smart Contract Tokens CPH, LUNA, XCP Lead the Pack DEFI | 7 days ago Relatively Unknown Protocols Push TVL in Defi Above the $200 Billion Range DEFI | Feb 15, 2022


Image Credits: Shutterstock, Pixabay, Wiki Commons, defillama.com, Previous articleBitcoin, Ethereum Technical Analysis: ETH Prepares for Rally, While BTC Seeks Support Next articleTechnical Analysis: Record Broken, as ANC Falls Over 20% on Sunday Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItStarlink Terminals Arrive in Ukraine as Elon Musk Makes Good on Promise


Spacex has managed to deliver Starlink equipment to Ukraine as promised by its founder, Elon Musk. The hardware will provide access to high-speed internet for users in the country, which has been experiencing disruptions in communications as a result of ... read more.South African Mobile Network Operator MTN Buys Land in the Metaverse Cambridge Centre for Alternative Finance Launches Digital Assets Research Project With 16 Banks Square Enix to Bring Dungeon Siege IP to The Sandbox Mobius Capital Founder Explains Why Bitcoin Is Rallying Amid Russia-Ukraine War

News Feed

China Frozen Bank Account Controversy: Affected Clients Injured During Protests, Nearly $6 Billion Missing
China Frozen Bank Account Controversy: Affected Clients Injured During Protests, Nearly $6 Billion Missing Some Chinese bank clients, whose accounts were frozen in April, were inju
ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’
ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound "Crucially Depends on How the Conflict Evolves" After the inflation rate in the eurozone reached a high of 7
Tom Mitchelhill5 hours agoEther ETF applications flood the SEC as ProShares files the 11thProShares has filed for an equal-weight Bitcoin and Ether exchange-traded fund, marking the 11th Ether ETF application in less tha
JMP Securities Sees Crypto Entering the Mainstream, Says Adoption Has Hit Escape Velocity
JMP Securities Sees Crypto Entering the Mainstream, Says Adoption Has Hit Escape Velocity Investment banking and asset management firm JMP Securities says that “The crypto e
Dogecoin Starts Out February with 23% Crash, What Does Historical Data Point To?
Este artículo también está disponible en español. The Dogecoin price has started out this month with a crash, sparking a bearish sentiment among DOGE investors. This bear
60 Cryptocurrency Exchanges in South Korea to Shut Down All or Some Services This Week
60 Cryptocurrency Exchanges in South Korea to Shut Down All or Some Services This Week The deadline for cryptocurrency exchanges and wallet operators to comply with the new regulat
JPMorgan Strategist Estimates Ether’s Fair Value at $1,500 Amid Competition From ‘Ethereum Killers’
JPMorgan Strategist Estimates Ether"s Fair Value at $1,500 Amid Competition From "Ethereum Killers" A strategist at JPMorgan stated that ether’s fair value is way lower than
Rakesh Upadhyay6 hours agoPrice analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTCThe weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term.1973 Total views2 Total sharesLis
Hollywood, Streaming Giants Scramble for Movie Rights to FTX Saga
Hollywood, Streaming Giants Scramble for Movie Rights to FTX Saga After the FTX collapse, the story seems as though it came from a financial thriller based on fiction and made-up c
Newly released Satoshi emails reveal a treasure trove of early Bitcoin lore
Tristan Greene4 hours agoNewly released Satoshi emails reveal a treasure trove of early Bitcoin loreSatoshi didn’t come up with the term “cryptocurrency” and wanted to downplay Bitcoin’s “anonymity.”2673 Tota
Ana Paula Pereira8 hours agoBinance, Snapchat and capital among things SBF was ‘freaking out’ aboutFormer FTX CEO Sam Bankman-Fried was once “freaking out about” getting regulators to crack down on Binance and ra
Blockchain thriving among Fortune 500 companies, but US lags — Coinbase
Derek Andersen2 hours agoBlockchain thriving among Fortune 500 companies, but US lags — CoinbaseCoinbase’s fourth annual corporate adoption report found that Fortune 500 companies and small businesses are adopting bl