The total value locked in decentralized finance (defi) has managed to jump above the $200 billion zone, as crypto markets have rebounded from the market downturn last week. A number of native assets from the $611 billion worth of smart contract protocols have seen double-digit gains with cypherium (CPH), counterparty (XCP), and terra (LUNA) leading the pack.
TVL in Defi Rises Above $200 Billion – Cypherium, Counterparty, Terra Rise
Crypto markets rallied after initially falling following Russia’s invasion of Ukraine three days ago and the rebound also pushed defi’s value higher. After falling below the $200 billion mark, the total value locked (TVL) in defi climbed back above the zone to $200.94 billion on February 27.
The TVL in defi across all the top blockchains hit a low of $185.9 billion on January 28 and it’s up 10.61% since that day. Curve dominance is 8.68% on Sunday with $17.86 billion total value locked but the defi protocol’s TVL is down 5.61% since last week.
Ethereum’s dominance, in terms of TVL in challenge today, is 55.94% with the current TVL of $112.36 billion. Terra is the second largest blockchain TVL in challenge on Sunday with $20.17 billion, or 10.04% of the TVL in challenge.
The third-largest blockchain TVL in defi is Binance Smart Chain (BSC) with $12.13 billion locked. Defillama.com metrics show Chainlink is the largest defi oracle today securing 138 protocols with $52.66 billion locked.
In terms of smart contract coins, cypherium (CPH) was the biggest gainer this week with a 330% gain. The smart contract coin, in terms of the second biggest gains this week, is the Old School Token Counterparty (XCP). The counterparty has jumped 54% in value against the US dollar in the past seven days.
Terra (LUNA) managed to spike by 52% this past week as the coin is the third-largest smart contract token gainer this week. At the time of writing, the aggregate value of all the smart contract platform native tokens in existence is $611 billion down 0.3% in the last day.
Currently, there is 23.63 billion TVL on cross-channel bridge platforms, up 16.6% from last week. The number of unique relay deposit addresses in the last month is 57,911 addresses.
The top five blockchains in terms of cross-chain bridge TVL on Sunday, February 27 include Avalanche, Polygon, Fantom, Ronin, and Arbitrum. Moreover, data collected by Coin98 Analytics from Santiment indicates that Solana has the most active developer count as of February 19, 2022. Solana’s developer count is followed by Ethereum, Cardano, Polkadot, Cosmos, and Terra.
