While digital currencies like bitcoin and ethereum lost roughly 10% in value during the last seven days, the decentralized finance (defi) economy has weathered the storm better than the top two leading crypto assets. A slew of blockchain game coins, challenge tokens, and metaverse assets like the gala, crypto.com coin, wax, kadena, wonderland, and avalanche saw double-digit gains over the course of the last 24 hours.
TVL in Defi Weathers the Crypto Economy Storm
While bitcoin (BTC) has hovered just above the $60K zone in consolidation, the defi economy and a number of other crypto assets have seen decent gains. Statistics from defillama.com show that on November 9, the Total Locked-In Value (TVL) in challenge protocols reached $ 275 billion and today it is only 6.54% lower at $ 257 billion . The defi protocol Curve commands 8% dominance amid the $257 billion with $20.63 billion TVL.
Curve’s TVL is followed by Makerdao ($ 18.16 billion), Aave ($ 15.59 billion), Convex Finance ($ 15.34 billion) and WBTC ($ 14.66 billion), respectively. The top three chains today in terms of TVL in challenge include Ethereum (ETH), Binance Smart Chain (BSC) and Solana (SOL). ETH captures $172.22 billion or 66.93% of the aggregate TVL in defi on Wednesday. BSC has $19.56 billion or 7.60% and SOL has $13.32 billion or 5.17%.
7 Tokens See Double Digit 24 Hour Gains, Inter-Channel Bridge TVL Drops 6.3% in 30 Days, Uniswap Orders Today’s Best Dex Volume
The top winner in the past 24 hours is the Blockchain Gaming Coin Gala (GALA), up 110.4% today. Crypto.com Coin (CRO) rose 28.5%, Wax (WAXP) jumped 16.7%, Kadena (KDA) rose 16.0%, Wonderland (TIME) increased Increased by 14.8%, the avalanche (AVAX) increased by 14.3% and the curved dao token (CRV) increased by 10%. The aforementioned seven tokens are the only coins on Wednesday that saw double-digit gains among the 10,000+ crypto assets.
Other notable gains included theta fuel (TFUEL) up 8.3%, kucoin token (KCS) jumped 5.2%, nem (XEM) rose 5.2%, polygon (MATIC) increased 4.8% and iota (MIOTA) increased 4.3% in the last 24 hours. Defi cross-chain bridge action is around $23.98 billion total value locked with Ronin Bridge commanding $7.5 billion, according to Dune Analytics metrics. 30-day changes in cross-chain bridge TVL show bridge TVL is down 6.3%.
The top five decentralized exchange (dex) platforms today include Uniswap (Ethereum), Trader Joe (Avalanche), Quickswap (Polygon), Alcor.exchange (WAX) and Sunswap (Tron). During the last 24 hours, the Avalanche-based Trader Joe saw $150.89 million in dex swaps, while today’s leader Uniswap processed $901 million, according to dappradar.com’s records on November 17.
