The total value locked (TVL) in decentralized finance (defi) has jumped back above the $200 billion range, hovering around $216.49 billion on Saturday morning (EST). The TVL in defi has increased 13.60% since tapping a low of $190.57 billion 13 days ago on January 23. The decentralized exchange (dex) Curve’s $19.41 billion TVL dominates the total value locked by 8.84%
Ethereum’s Defi TVL Dominates by 61% Increasing 10% During the Last Week, Cross-Chain Bridge Value Jumps 16.2% in 30 Days
The value locked in decentralized finance (defi) has climbed higher since the low it saw on January 23 dropping $10 billion below the $200 billion mark. Today the TVL is 13.60% higher as the value locked has increased a great deal during the last few days.
The protocol Uniswap’s TVL jumped 9.44% during the last seven days, Balancer increased by 9.25%, and this week Makerdao’s TVL swelled by 9.10%. Furthermore, smart contract platforms, in terms of market capitalization have increased their overall value to $674 billion up 8.3% in the last 24 hours.
At the same time, solana (SOL), polkadot (DOT), terra (LUNA), and avalanche (AVAX) saw double-digit weekly gains. SOL climbed the highest this past week, jumping 25.6% against the U.S. dollar.
In terms of defi TVL per blockchain, Ethereum still rules the roost with 516 defi protocols and $135.78 total value locked today. ETH’s TVL represents 61.41% of the entire $216.49 billion locked in defi. The second-largest defi chain is Terra with the network’s 17 defi apps commanding $14.67 billion in value today.
While Ethereum saw a seven-day change by increasing its TVL by 10%, Terra’s defi TVL jumped 7.49%. Avalanche (AVAX) saw one of the largest jumps this week in the top ten TVLs by chain with a 19.38% increase to $10.08 billion.
Cross-chain bridge TVLs have increased during the last month by 16.2% and today, there’s $25.11 billion locked across various bridges. While Polygon’s bridges lead the pack with a $5.59 billion TVL, Avalanche has $5.53 billion locked on Saturday.
Wrapped ethereum (WETH), ethereum (ETH), and USDC are the most leveraged crypto assets on cross-chain bridges this weekend.
What do you think about this week’s defi action and smart contract token markets? Let us know what you think about this subject