Total Value Locked in Defi Takes a Hit Losing $21 Billion in 6 Days – Defi Bitcoin News

Over the last six days, the total value locked (TVL) in decentralized finance (defi) has dropped 9.21% from a high of $232.88 billion on April 5, to today’s $211.43 billion. The defi protocol value lost 4.40% over the past 24 hours.

You get value from Defi Shudders this week

The crypto economy lost billions but the defi landscape also suffered the effects of this storm. Although the TVL for defi was close to a record, most of this value has disappeared since April 5. As of Monday, April 11, 2022 the TVL for defi was at $211.43 trillion, which is 9.21% lower than the level six days earlier. Curve Finance currently holds the dominance rating of 9.22% and is the highest TVL defi protocol. Curve Finance has an estimated TVL of $20.12 trillion, which is down by 5.30% in the past week.

Lido, which has $17.43billion in value locked, ranks second among the largest defi protocols. However, Lido has experienced a 13.95% drop in value over the past seven days. Anchor, the third most important defi protocol has $14.75 Billion in value, but it has experienced a drop of 6.79% during this week. Platypus Finance, which has increased 22.44% and Cbridge (35.34% respectively) are two defi protocol that have seen their value increase over the past week. Ethereum holds 55.59%, or $117.52 Billion, of the total $211 billion that was locked Monday.

Terra’s (LUNA) defi TVL is the second largest with $26.68 billion or 12.62% of the $211.43 billion. Binance Smart Chain is the third largest defi TVL, accounting for $13.16 Billion or 6.23%. Ethereum’s, Terra’s, and BSC’s TVLs are followed by the TVLs held on Avalanche and Solana, respectively. Except for the Near network, the top twelve blockchains in terms TVL were all lower in value in the week. However, it is up 22.57% in the last seven days.

In general, all the major smart contract platform coin market capitalizations have seen their prices drop in the last week. According to 24 hour stats, $667 billion in value is the highest smart contract platform coin. This figure has dropped 8.5%. As far as cross-chain bridges to Ethereum are concerned, there’s $19.9 billion TVL across cross-chain bridges among 40,184 unique addresses. This figure has fallen 8.8% in the past 30 days.

What do you think about the week’s defi action and the TVL losing $21 billion in six days? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.