The total value locked in decentralized finance has dropped from $257 billion (mid-November) to $250.55 trillion. It also lost more than 5% during the past 24 hours. Defi tokens, such as pancakeswaps, uniswaps, curva tokens, 1inch or sushi, have experienced a 15%-23.9% drop in value over the last seven day.
Defi TVL Drops —Convex Finance and Curve Finance dominate
Defillama.com’s metrics show that the TVL across defi protocols on a variety of blockchains stands at $250.55 trillion as of the writing of this article. The defi total locked lost 5.08% in the past day. Curve is the dominant protocol with an average dominance of 8.07% over most TVLs.
Curve is the automated market maker, Curve (AMM), which commands $20.23 Billion TVL. That’s an increase of 1.3% in this week. Makerdao has $18.56 million, making it the second largest defi protocol TVL. Convex Finance is currently the third-largest TVL for defi protocol TVLs with $15.14 trillion.
Ethereum Defi TVL Dominance 65, Binance Smartchain 6%, Terra 5 %
TVL per blockchain shows Ethereum commanding $164.36Billion out of $250.55B in defi. Binance Smart Chain, (BSC), captures $16.61 Billion and is second in defi protocol TVLs.
BSC follows Terra (13.29B), Avalanche (12.03B), Solana (11.246B), Tron (5.48B). Ethereum holds 65.58% (at the time this article was written) of the value of $250.55 billion in defi. BSC holds 6.62% of the value, Terra’s TVL has 5.30%.
Rebase and AMM Defini Tokens Slide —Crosschain Bridge TVL Slips 26% in 30 Days
Coingecko.com stats show that $17.2 billion is the decline in market capitalization at the top-automated market maker (AMM), defi tokens. Also, metrics indicate that rebase tokens are down 5.1% to $6.09 Billion on Sunday.
In the past seven days, top AMM crypto asset uniswap has lost 15% The next are pancakeswap (16.7%), curva token (27.2), 1inch (26.3%) and sushi (23.9%).
Tokens of Rebase such as Olympus and wonderland have lost 17.1%, 18.5% respectively. Klima dao, (KLIMA), is at 50.6% and ampleforth (AMPL), has lost 17.7%.
Monthly stats show cross-chain bridge TVLs have slipped 26.9% and today there’s $24.40 billion TVL in bridges to Ethereum, according to Dune Analytics. Avalanche is at $6.6 billion, Polygon $5.6 billion, and Ronin bridge has $6.9 Billion.
How do you feel about today’s state of decentralized financing (defi). Comment below and let us know how you feel about the subject.
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