As crypto markets rebounded after the last week’s market crash, the total decentralized finance (defi), value has risen to more than $200 billion. Many native assets derived from smart contract protocols worth $611 billion have experienced double-digit growth, with cypherium(CPH), counterparty [XCP], and terra[LUNA] leading the charge.
TVL in Defi Jumps Back Above $200 Billion — Cypherium, Counterparty, Terra Rise
After initially falling after Russia’s invasion of Ukraine, crypto markets are now recovering and defi has seen a rebound. The total value of defi, which had fallen below $200 billion, has now risen to $200.94 trillion.
The TVL in defi across all the top blockchains hit a low of $185.9 billion on January 28 and it’s up 10.61% since that day. Curve dominance is 8.68% on Sunday with $17.86 billion total value locked but the defi protocol’s TVL is down 5.61% since last week.
Ethereum dominates the TVL today with a 55.94% share of defi’s current TVL at $112.36billion. Terra’s the second-largest blockchain TVL in defi on Sunday with $20.17 billion which is 10.04% of the TVL in defi.
Binance Smart Chain (BSC), which is locked at $12.13 billion, is third in blockchain TVLs for defi. Defillama.com data shows that Chainlink, which has 138 protocols and $52.66 million locked, is today’s largest defi oracle.
In terms of smart contract coins, cypherium (CPH) was this week’s biggest gainer with a 330% gain. The smart contract coin, in terms of this week’s second-largest gains, is the old-school token counterparty (XCP). The value of Counterparty against the U.S. dollars has gone up 54% in the past 7 days.
Terra (LUNA), the third-largest smart contracts token gainer, managed to see a 52% increase in value this week. As of the writing of this article, $611 billion is the total worth of all native smart contract tokens. That’s 0.3% less than the value recorded the previous day.
Presently, there’s $23.63 billion TVL across cross-chain bridge platforms today up 16.6% since last week. The number of bridge deposit addresses unique in the past month was 57,911 addresses.
Avalanche and Polygon are the top blockchains for cross-chain bridge TVL. Additionally, the data was collected by Coin98 Analytics at Santiment indicatesAs of February 19, 2022, Solana had the highest active developer count. Solana’s developer count is followed by Ethereum, Cardano, Polkadot, Cosmos, and Terra.
What do you think about this week’s decentralized finance action? Please comment below on your views.
Images CreditsShutterstock. Pixabay. Wiki Commons. Coin98 Analytics. Defillama.com. Santiment.
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