Since mid-November the total value locked (TVL) in decentralized finance (defi) has slid from $257 billion to $250.55 billion and during the last 24 hours it lost a touch more than 5%. Over the last seven days, defi tokens like uniswap, pancakeswap, curve dao token, 1inch and sushi have lost anywhere between 15% to 23.9% in value.
Defi TVL Drops — Curve, Makerdao and Convex Finance Dominate
At the time of writing, the TVL in defi protocols across a myriad of blockchains is $250.55 billion, according to metrics from defillama.com. The aggregate defi value locked has lost 5.08% during the last day, and the protocol Curve dominates most of the TVLs listed with 8.07% dominance.
The automated market maker (AMM) Curve commands $20.23 billion TVL which is up 1.13% this past week. Makerdao is the second-largest defi protocol TVL with $18.56 billion at the time of writing. The third-largest defi protocol TVL belongs to Convex Finance with $15.14 billion today.
Ethereum Defi TVL Dominance 65%, Binance Smart Chain 6%, Terra 5%
TVL per blockchain shows that Ethereum commands $164.36 billion of the $250.55 billion in defi on Sunday. Binance Smart Chain (BSC) captures $16.61 billion and the chain is the second-largest chain in terms of defi protocol TVLs.
Following BSC is Terra ($13.29B), Avalanche ($12.03B), Solana ($12.46B), and Tron ($5.48B). At the time of writing, Ethereum commands 65.58% of the $250.55 billion of value locked in defi. While BSC commands 6.62% dominance, the TVL in Terra captures 5.30%.
Rebase and AMM Defi Tokens Slide —Crosschain Bridge TVL Slips 26% in 30 Days
Statistics from coingecko.com indicate that the total market capitalization of the top automated market maker (AMM) defi tokens has dropped 13.6% to $17.2 billion. Additionally, metrics show that rebase tokens have lost 5.1% to a low of $6.09 billion on Sunday.
The top AMM crypto asset uniswap (UNI) has shed 15% during the last seven days. Uniswap is followed by pancakeswap (16.7%), curve dao token (27.2), 1inch (26.3%), sushi (23.9%), and bancor token (10.1%).
Rebase tokens such as olympus (OHM) shed 17.1% this past week while wonderland (TIME) has lost 18.5%. Klima dao (KLIMA) is down 50.6% during the last seven days and ampleforth (AMPL) 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. The leader is the Ronin bridge with $6.9 billion and Avalanche has $6.6 billion and Polygon has $5.6 billion.
Tags in this story
1inch, AMM tokens, Automated Market Maker, Avalanche, BSC, cross-chain bridge, curve dao token, decentralized finance, DeFi, defi action, defillama.com, DEX, Ethereum, Klima dao (KLIMA), makerdao, olympus (OHM), Pancakeswap, rebase tokens, Solana, SUSHI, Terra, total value locked, tron, TVL, uniswap, uniswap (UNI), Wonderland (TIME)
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