While the price of bitcoin has been volatile during the last seven days, a number of smart contract platforms have been performing far better this week. Statistics show that the total locked-in value (TVL) in decentralized finance (challenge) is $ 267 billion and that TVL held on Ethereum takes the lion’s share of that value. Ethereum is the largest smart contract platform today, in terms of market valuation, but a number of competitors have increased significantly in value over the last 12 months.
3 smart contract tokens outperformed Ethereum’s 12-month gains by far
The largest Ethereum smart contract platform (ETH) has a market valuation of around $ 555 billion and accounts for 18.7% of the net worth of the entire crypto-economy. Metrics also show that there’s $267 billion TVL in defi today, and the Ethereum protocol captures $179 billion or 49.16% of the overall TVL in defi. In terms of trading volume, ether today has $ 15.5 billion in global swaps, which is much larger than its competitors. ETH has outpaced BTC in 12 month gains with 914% during the last year, compared to BTC’s 299% increase in value.
However, a number of other smart contract platforms have outperformed 12-month ETH stats. For instance, while solana (SOL) holds the fifth largest market capitalization, in terms of smart contract platforms it is the second-largest chain with an overall valuation of $71.2 billion. ETH’s 914% 12-month gain is decent, but SOL has jumped 12,337% in the past year. Solana’s market capitalization dominance is 2.39% on Saturday. The TVL held in challenge on the Solana network is $ 14.22 billion, which is the third largest TVL per channel below Binance Smart Chain (BSC).
Cardano (ADA) is the third-largest smart contract platform with a market capitalization of around $66.5 billion today. ADA also outperformed the 12-month gains of Ethereum (ETH), with ADA rising 1,881% last year. In terms of TVL in defi, metrics from defillama.com do not include any statistics for the Cardano blockchain. Cardano’s market cap on Saturday is around 2.23% of the overall market economy. The fourth-largest smart contract platform in terms of overall market valuation is the crypto asset avalanche (AVAX).
5th largest smart contract token link posts lower gains than Ethereum this year – LUNA and MATIC rise in value
Avalanche (AVAX) has a market cap of around $ 20 billion on Saturday and there has been $ 625 million in global AVAX swaps in the past 24 hours. Avalanche is represented on defillama.com’s chains market metrics, and is the fifth-largest defi chain in terms of TVL ($10.11B) under Terra. Avalanche is also under the stock market valuation of terra (LUNA) because AVAX holds the 13th position in the market. 12-month metrics indicate that AVAX too has outpaced ethereum’s gains as AVAX climbed 2,598% year to date.
Chainlink (LINK) is the fifth largest smart contract platform by market cap with an overall valuation of $ 15.9 billion today. The $15.9 billion puts LINK in the 15th market position out of the 10,000+ crypto-assets in existence. Unfortunately for ‘LINK Marines’, the chain link has not overtaken Ethereum in terms of earnings. Year-to-date, LINK has gained 175% in value after hitting the crypto asset’s all-time high six months ago on May 10, 2021. Nonetheless, in terms of smart contract platforms, the sixth Largest chain Algorand (ALGO) needs to leap 17.61% higher in order to exceed the market valuation of LINK.
Other top-performing smart contract platform tokens include terra (LUNA) up 15,925% year-to-date, polygon (MATIC) jumped 10,859% in the last 12 months, and fantom (FTM) up 14,924% during the course of the last year. Major TVLs not to mention ETH, SOL, AVAX, include blockchains like Binance Smart Chain ($ 21.07 billion), Terra ($ 10.91 billion), Tron ($ 6.45 billion), Fantom (5 , $ 48 billion) and Polygon ($ 5 billion).
