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

The cryptocurrency-economy is losing value over the past 48 hours. At $1.83 Trillion, it’s the current market price for all 133,000+ crypto assets. The total value locked in decentralized financial (defi), protocols (TVL) has fallen below $200 billion 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.

Ethereum loses decentralized finance dominance as value locked in the Defi protocols sinks

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.

Curve Finance dominated the protocol pack, increasing the TVL in defi by 0.11% on Sunday March 6th 2022. 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 closely followed by Makerdao (£15.15B), Lido (12.79B) and Convex Finance (12.58B).

According to chain statistics at defillama.com, Ethereum is still the dominant TVL in Defi, but by only 55.59%. ETH’s dominance in defi was 69% on October 5th 2021. It has lost 14% of its dominance over the past five months. Terra is the largest defi TVL today with $22.67 Billion locked and over half of it locked into the Anchor protocol.

BSC ($11.71B), Avalanche (10.74B) and Fantom (7.69B respectively) are the next three TVLs held in defi protocols Sunday. Solana’s defi TVL this weekend is $6.83 billion down more than 5% during the last seven days.

As press time approaches, the combined TVL for 381 decentralized ex (dex), platforms is $64.65 trillion. Coingecko.com data indicates that Uniswap v3 was the most popular dex with $856.6 Million in 24 hour volume.

Uniswap v3 comes in second place after Pancakeswap, Spookyswap ($270M), Curve and Astroport ($155M). Waves (WAVES), up 51%, and Lisk (LSK), up 28.9% respectively this week. Wanchain (WAN) rose 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. Blockchains like Avalanche (Polygon), Fantom and Ronin are the top-ranked cross-chain link TVLs.

Chainlink leads the 25 decentralized finance oracles. Chainlink secured $52.23 Billion in value over 141 protocols. It has an oracle dominance rate of 54.83% every Sunday morning.

Let us know your thoughts on the activities in the space of decentralized financing (defi). 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 joined the cryptocurrency community in 2011 and has been an active participant ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for Bitcoin.com News, with over 5000 articles on disruptive protocols.