Decentralized finance (defi) has swelled quite a bit this year and on October 5, the total value locked (TVL) in defi protocols crossed the $200 billion mark. Since January 1, the TVL challenge in various blockchains has increased by almost 855%, from $ 21.4 billion to $ 204 billion today.
Total Value Locked in Defi Jumps Over the $200 Billion Handle, Ethereum TVL Commands 69% Dominance
The total value locked (TVL) in defi today has jumped nearly ten times higher than the value at the beginning of 2021. On October 5, 2021, TVL in challenge broke the $ 200 billion mark for the first time. and the value has remained above $ 200 billion in the past seven days.
Statistics from defillama.com indicate that the defi protocol Curve has the largest dominance with $15.94 billion, up more than 7% over the last week. Curve’s dominance is 7.80% on Tuesday and it interacts with six different crypto networks including Avalanche, Ethereum and Polygon.
Metrics show that Aave, Makerdao, and Wrapped Bitcoin (WBTC) command the third, fourth, and fifth positions in terms of defi TVL dominance. Aave orders $ 14.87 billion on Tuesday while Makerdao holds $ 13.48 billion and WBTC captures $ 11.99 billion in value.
Between Curve, Aave, Makerdao, and WBTC all four defi protocols have $56.28 billion worth of the aggregate TVL, which is 27.53% of the entire TVL today. The entire $ 204 billion is spread across blockchain protocols like Ethereum, Solana, Avalanche, Polygon, Fantom, Terra, Arbitrum, Binance, Celo, and Harmony.
Top Ten Dex Platforms in Mid-October 2021 — Funds Continue to Pour Into Waves, Fantom, Polynetwork, Harmony, Arbitrum, and Avalanche Networks
The top ten decentralized exchange (dex) applications on Tuesday include defi projects such as Curve, Pancakeswap, Sushiswap, Uniswap, Balancer, Uniswap V3, Saber, Serum Raydium, and Bancor, respectively.
The five blockchains with the most TVL on Tuesday are Ethereum, Binance, Solana, Terra, and Avalanche. The Ethereum chain still commands 69.01% dominance with approximately $141.06 billion total value locked on October 12.
The second and third TVL for Binance and Solana are below the $ 20 billion mark but above the $ 10 billion line. While Ethereum has seen a TVL increase of 1.65% during the last seven days, Fantom has increased the most during the last week.
Data shows Avalanche TVL climbed 19.64%, but Fantom’s TVL jumped 225% in one week. Other leaders seeing increases in TVL over the last week include chains like Waves ($2.15B), Arbitrum ($1.52B), Polynetwork ($298M), and Harmony ($205.92M).
