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Defi TVL Holds Steady Above $42 Billion as Lido Finance Dominates With $12.69 Billion Locked

Defi TVL Holds Steady Above $42 Billion as Lido Finance Dominates With $12.69 Billion Locked

On June 18, 2023, the total value locked (TVL) in decentralized finance (defi) protocols has been rangebound and hovering at just above the $42 billion range. Presently, Lido Finance dominates the value locked in defi with $12.69 billion or 29.76% of the aggregate. During the last month, the top ten defi protocols except for Lido have seen losses between 0.31% and 16.88%.

Defi TVL Remains at $42 Billion With 58% Linked to Ethereum-based Protocols

The total value locked in defi today is still above the $42 billion mark and $24.87 billion of that value is tied to Ethereum-based defi protocols. This means Ethereum’s TVL dominates by more than 58% in comparison to the 195 defi-enabled blockchain networks recorded by defillama.com. Out of all the protocols, Lido’s liquid staking platform holds the most with $12.69 billion and while nine out of the top ten defi protocols saw losses last month, Lido’s is up by 6.75%.

The biggest loser of the defi protocol top ten was Makerdao which shed 16.88% in 30 days. One notable riser was Blur which saw a rise of 11.48% during the past month alongside Conic Finance which jumped 23.04% higher. While Ethereum dominates by 58% with $24.87 billion, the second largest chain in terms of TVL size is Tron with 12.65% or a total of $5.37 billion on June 18. Tron is followed by the Binance Smart Chain (BSC), Arbitrum, and Polygon, respectively, in terms of chains by TVL size.

Additionally, ethereum (ETH)-based liquid staking derivatives represent $16.969 billion of the $42 billion locked in defi today. Approximately 9,745,831 ETH is locked into 21 different liquid staking platforms as of 10:00 a.m. Eastern Time on June 18. Most of the TVL action has been lackluster due to the top smart contract token economy taking losses this past week. However, the top smart contract token economy has risen 1.4% higher today resulting in a $315 billion market valuation.

What do you think about the TVL in defi over the last week? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/XmnPgIs
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