Skip to main content

Value Locked in Defi Climbs Higher, Polkadot TVL Spikes, Terra’s LUNA Sheds 21%

On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23.

Defi TVL Climbs More Than 5%, Ethereum Defi Dominance Still 60%, Cross-Chain Bridge TVL Jumps 13.5%

At the end of the week, crypto asset prices have rebounded from the market carnage that took place seven days ago. During the last week, the top two leading crypto assets bitcoin (BTC) and ethereum (ETH) have gained 7% to 9% in value against the U.S. dollar.

A week ago today, the TVL in defi dropped under the $200 billion mark and hit a low of $182.76 billion on January 23. Since then, the TVL has increased by 5.28% to $192.42 billion, according to Sunday’s defillama.com metrics.

Curve Finance, which is available on eight different blockchain networks commands a dominance of 9% amid the $192 billion TVL with $17.31 billion locked. Curve’s TVL, however, shed 11.21% in value during the course of the week.

The second-largest defi protocol is Makerdao with $15.81 billion locked and the third-largest is Convex Finance with a $12.03 billion TVL. In terms of TVL by blockchains, Ethereum currently commands ​​$117 billion of the $192 billion TVL in defi today.

The $117 billion locked among 509 Ethereum defi protocols equates to 60.80% of the entire defi TVL on January 30, 2022. Furthermore, Terra’s blockchain has around 17 defi protocols and is the second-largest blockchain, in terms of TVL in defi today.

Terra has $13.17 billion locked and the UST staking protocol Anchor commands 53.38% of Terra’s TVL. Binance Smart Chain (BSC) is holding down the third-largest TVL position with $12.08 billion locked. The BSC defi protocol and decentralized exchange (dex) Pancakeswap’s $4.26 billion captures 35.22% of the TVL in the BSC’s defi platforms.

Fantom (FTM) commands a $9.42 billion TVL on Sunday, which is the fourth largest defi TVL. FTM’s Multichain has a dominance rating of 58.24% of Fantom’s TVL with $5.49 billion. Lastly, the fifth largest defi chain today is Avalanche (AVAX) with a $8.72 billion TVL, and Aave commanding 27.33% of the TVL with $2.38 billion locked.

One of the biggest seven-day gainers in terms of defi TVL held on a blockchain was Polkadot’s (DOT) 47.89% climb. DOT currently has the tenth largest defi TVL with $1.24 billion locked.

Cross-chain bridge TVL rates jumped 13.5% during the last 30 days according to Dune Analytics statistics. At the time of writing on January 30, 2022, there’s $19.95 billion locked into cross-chain bridge platforms with Polygon commanding the top bridge TVL.

Polygon has $5.4 billion today, while the second-largest bridge TVL is Avalanche with $5 billion. Out of the top smart contract protocols by market capitalization, the blockchain token telos (TLOS) saw the largest seven-day gains. The tokens poa network (POA) and terra (LUNA) saw the biggest weekly losses slipping 21.9% (LUNA) and 36.3% (POA).

What do you think about this week’s action in the world of decentralized finance? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/lTav9tSqo
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more