Value Locked in Defi Climbs Higher, Polkadot TVL Spikes, Terra’s LUNA Sheds 21%

TVL

On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23.

Defi TVL climbs over 5%, Ethereum Defi Dominance still at 60%, Cross-Chain Bridge TVL jumps 13.5%

At the end of the week, crypto asset prices rebounded from the market carnage that took place seven days ago. Over the past week, the two major crypto assets Bitcoin (BTC) and Ethereum (ETH) have gained 7%-9% in value against the US dollar.

A week ago today, the TVL in defi dropped under the $200 billion mark and hit a low of $182.76 billion on January 23. Since then, the TVL has increased by 5.28% to $192.42 billion, according to Sunday’s defillama.com metrics.

Curve Finance, which is available on eight different blockchain networks, holds a 9% dominance amid $192 billion TVL with $17.31 billion locked. Curve’s TVL, however, lost 11.21% in value over the week.

The second-largest defi protocol is Makerdao with $15.81 billion locked and the third-largest is Convex Finance with a $12.03 billion TVL. In terms of TVL by blockchains, Ethereum currently commands ​​$117 billion of the $192 billion TVL in defi today.

The $117 billion locked among 509 Ethereum defi protocols equals 60.80% of the entire defi TVL as of January 30, 2022. Additionally, the Terra blockchain has approximately 17 defi protocols and is the second largest blockchain, in terms of TVL in defi today.

Terra has $13.17 billion locked and the UST staking protocol Anchor commands 53.38% of Terra’s TVL. Binance Smart Chain (BSC) is holding down the third-largest TVL position with $12.08 billion locked. The BSC defi protocol and decentralized exchange (dex) Pancakeswap’s $4.26 billion captures 35.22% of the TVL in the BSC’s defi platforms.

Fantom (FTM) commands a TVL of $9.42 billion on Sunday, which is the fourth biggest TVL challenge. FTM’s Multichain has a dominance rating of 58.24% of Fantom’s TVL with $5.49 billion. Finally, the fifth largest challenge channel today is Avalanche (AVAX) with a TVL of $8.72 billion, and Aave controlling 27.33% of TVL with $2.38 billion locked.

One of the biggest seven-day gainers in terms of defi TVL held on a blockchain was Polkadot’s (DOT) 47.89% climb. DOT currently has the tenth largest defi TVL with $1.24 billion locked.

Inter-channel bridge TVL rates jumped 13.5% in the last 30 days according to statistics from Dune Analytics. As of this writing on January 30, 2022, $19.95 billion is locked in cross-chain bridge platforms with Polygon commanding the TVL upper deck.

Polygon has $5.4 billion today, while the second-largest bridge TVL is Avalanche with $5 billion. Out of the top smart contract protocols by market capitalization, the blockchain token telos (TLOS) saw the largest seven-day gains. The tokens poa network (POA) and terra (LUNA) saw the biggest weekly losses slipping 21.9% (LUNA) and 36.3% (POA).

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