On October 29, the total value locked (TVL) in decentralized finance (defi) protocols is around $243 billion with Curve capturing 7.76% of the dominance. Meanwhile, as ethereum has TVL’s greatest dominance in challenge, a number of alternative blockchains are seeing significant increases every week. Moreover, the TVL in cross-chain bridge technology has reached $22.48 billion, up 48.8% over the last month.
Locked-in Defi’s total value hovers above $ 240 billion – Avalanche, Fantom, Polygon, Tron, Arbitrum TVLs increasing in challenge
The total value stuck in decentralized financial applications has continued to climb this year to new highs. Data from defillama.com’s dashboard shows the TVL on Friday is $243 billion with Curve’s $18.91% commanding a 7.76% dominance rating. The Defi Curve protocol supports seven different blockchains, which means that users can access cross-chain bridge technology to take advantage of decentralized exchange (dex).
Statistics indicate that Ethereum (ETH) is still the dominant defi chain with $164.75 billion worth of the $243 billion TVL in defi aggregate. While Ethereum is a big part of the challenge pie, blockchains like Avalanche, Fantom, Polygon, and Tron have seen TVLs increase dramatically over the past week. Avalanche’s TVL in defi increased by 10.44% during the last seven days, while Tron’s TVL in defi spiked by 18.76%.
TVL of cross-chain bridges increases 48% this month – Over $ 22 billion in total value locked in
Fantom’s TVL saw a significant jump last week, pulling together 31.21% more in TVL. Meanwhile, Solana and Terra saw much smaller increases this past week as Solana captured 0.44% and Terra only jumped by 0.79%. Arbitrum saw an increase in TVL of around 24.58% this week and Polygon (MATIC) rose 4.41%. The TVL on the Binance Smart Chain (BSC) dipped this week losing 6.15%, but it is still the second-largest defi TVL after Ethereum.
This week, TVL in inter-channel bridges swelled 48.8% over the past month and on Friday, the TVL inter-channel bridge is $ 22.48 billion. Statistics from Dune Analytics show Ronin bridge increased by 2% this past week with $5.3 billion. Dune Analytics’ cross-chain bridge dashboard called “Bridge Away (L1 Ethereum)” shows 16 different chain bridges like Avalanche, Arbitrum, BSC Anyswap, Boba Network, Fantom Anyswap, Harmony Bridges, etc.
Assets that command the most activity in cross-chain bridges include tokens like WETH, ETH, AXS, USDC, WBTC, MATIC, USDT, and DAI respectively. In WETH / ETH terms, the TVL in the Cross Chain Bridges is around $ 7,062,594,503 Friday morning.
