Total Value Locked in Defi Takes a Hit Losing $21 Billion in 6 Days


Over the last six days, the total value locked (TVL) in decentralized finance (defi) has dropped 9.21% from a high of $232.88 billion on April 5, to today’s $211.43 billion. The value locked in defi protocols shed 4.40% of that value during the last 24 hours.

Value locked in Defi quivers this week

As the crypto-economy lost billions, the challenge landscape also felt the brunt of the storm. Last week, the TVL in challenge approached a record high, but most of that value has been wiped out since April 5. At the time of writing Monday, April 11, 2022, the challenged TVL is advancing to $211.43 billion, down 9.21% from six days ago. Currently, the best challenge protocol in terms of TVL is Curve Finance with a dominance rating of 9.52%. Curve has a TVL of around $20.12 billion, down 5.30% from last week.

The second-largest defi protocol, in terms of value locked, is Lido with $17.43 billion. Lido, however, has lost 13.95% during the last seven days. The third-largest defi protocol, Anchor, has $14.75 billion total value locked but has lost 6.79% this past week. Two defi protocols that have increased during the last week include Cbridge, up 35.34% and Platypus Finance up 22.44%. Out of the $211 billion locked on Monday, Ethereum commands 55.59% of the aggregate with $117.52 billion.

Terra’s (LUNA) TVL challenge is the second largest with $26.68 billion, or 12.62% of the $211.43 billion. The third largest blockchain TVL challenge is Binance Smart Chain (BSC) as the network currently commands $13.16 billion or 6.23% of the TVL in challenge today. Ethereum, Terra, and BSC TVLs are tracked by TVLs held on Avalanche and Solana, respectively. The top 12 blockchains by TVL have all declined in value over the past week except for the Near blockchain network which has grown by 22.57% over the past seven days.

Overall, the top smart contract platform coins by market capitalization are all down in value during the last week. 24-hour stats show the $667 billion worth of the top smart contract platform coins is down 8.5%. As far as cross-chain bridges to Ethereum are concerned, there’s $19.9 billion TVL across cross-chain bridges among 40,184 unique addresses. The figure is down 8.8% during the last 30 days.


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