Digital currencies such as bitcoin and ethereum have lost approximately 10% over the past seven days. However, decentralized finance (defi), has fared better than top crypto assets. A number of defi tokens and blockchain coins as well as metaverse assets such gala and crypto.com have experienced double-digit gains in the past 24 hours.
TVL at Defi Weathers Crypto Economy Storm
Although bitcoin (BTC), has been just below the $60K mark in consolidation, defi economies and many other crypto assets have experienced decent gains. Statistics from defillama.com show that on November 9, the total value locked (TVL) in defi protocols tapped $275 billion and today it’s only 6.54% lower at $257 billion. The Curve protocol is the defi protocol and commands an 8% share of $257 billion, with $20.63 trillion TVL.
Curve’s TVL is followed by Makerdao ($18.16B), Aave ($15.59B), Convex Finance ($15.34B), and WBTC ($14.66B), respectively. Solana, Binance Smart Chain and BSC are the top three most popular chains for TVL in defi today. ETH captured $172.22 Billion, or 66.93% (a total of $1.6 billion) in TVL in Defi as of Wednesday. BSC is at $19.56 billion, or 7.60%. SOL is at $13.32billion or 5.17%.
7 Tokens See Double-Digit 24 Hour Gains, Cross-Chain Bridge TVL Dips 6.3% in 30 Days, Uniswap Commands Today’s Top Dex Volume
Today’s top earner is blockchain game coin gala, up 110.4%. Crypto.com’s (CRO). has increased 28.5%. Wax (WAXP), kadena (16.0%) and wonderland (2.8%) have all increased. Avalanche (AVAXX) has risen 14.3%. Curve dao token (CRV – 10%) also increased. These seven coins are the only ones that posted double-digit gains Wednesday amongst the more than 10,000 crypto assets.
Notable gainers included theta fuel, which increased 8.3%, the kucoin token, (KCS), which soared 5.2%, and nem, (XEM), which jumped 5.2%. In the 24 hour period, polygon, MATIC, rose by 4.8%. And iota, MIOTA, spiked 4.3%. Dune Analytics data shows that the cross-chain action for Defi crosses has a total value of $23.98 billion with Ronin Bridge selling at $7.5 billion. Bridge TVL shows a 6.3% drop in 30-day cross-chain bridge TVL.
Uniswap, Ethereum, Trader Joe (Avalanche), Quickswap(Polygon), Alcor.exchange.WAX (WAX) and Sunswap. During the last 24 hours, the Avalanche-based Trader Joe saw $150.89 million in dex swaps, while today’s leader Uniswap processed $901 million, according to dappradar.com’s records on November 17.
Do you have any thoughts about defi tokens, blockchain games coins and metaverse asset rising above the cryptocurrency market crash? Please share your thoughts on this topic in the comment section.
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