The value locked in decentralized finance (defi) has dropped 21.22% since January 4, 2022. At the time, the total value locked (TVL) in defi was $255.84 billion and today, the TVL is around $201.55 billion.
TVL in Defi loses $54 billion in 2 weeks
While digital currency markets have lost significant value over the past two weeks, the value locked in decentralized finance has also fallen significantly. Since the first week of January, TVL has challenged $54.29 billion in value.
Today, the TVL in defi is $201.55 billion which is down 1.19% over the last 24 hours. While defi has seen a significant dip in value, overall it has more than doubled its share of the crypto economy.
Since the start of 2021, defi’s share of the crypto economy has “more than doubled from 2.8% to an all-time high of 6.5%,” according to statistics from Crypto’s Annual Crypto Report. Coingecko.com.
At the time of writing, the defi protocol Curve Finance has a dominance rating of 9.69% of the $201 billion locked. Curve is active on eight different blockchains and has a TVL of around $19.53 billion. Metrics show Curve’s TVL is down 16.34% over the last seven days. Curve is followed by Makerdao, Convex Finance, Aave, and WBTC, respectively, in terms of total value locked.
Ethereum Defi Dominance Still Reigns, Fantom’s TVL Jumps 59%
While the TVL in challenge today is $201 billion, the value locked in Ethereum is $119.04 billion. Ethereum’s TVL is 59.06% of the overall TVL across all defi protocols on Sunday morning (EST).
Terra’s blockchain commands $16.94 billion, followed by Binance Smart Chain’s $12.22 billion. Fantom commands the fourth largest position in terms of TVL held by a specific blockchain with $12.06 billion today.
Avalanche is in fifth place with $8.62 billion TVL and Solana is in sixth place with $8.12 billion. Terra’s biggest challenge protocol is the Anchor app, BSC’s biggest is Pancakeswap, and Fantom’s biggest is the Multichain protocol.
Avalanche’s biggest defi protocol on Sunday is Aave and Solana’s is the application Serum. While most blockchains shed value this past week, Fantom’s TVL jumped 59.61% and Heco’s TVL spiked by 52.77% in seven days.
