The value locked in decentralized finance (defi) protocols has lost 17.77% over the last 30 days, falling from $221.67 billion to today’s $182.27 billion. Moreover, statistics show the total value locked (TVL) across a broad range of defi protocols shed significant value during the last seven days.
Defi Protocols Bring Significant Value
Decentralized finance (defi) protocols have lost significant value over the past month, as 17.77% of the TVL in challenge has been reduced since April 8, 2022. The largest challenge protocol, in terms of size of TVL, Curve Finance, lost 16.55% last month, while Lido lost 13.28% of its 30-day value. Anchor’s TVL is down 10.15%, Makerdao fell 20.48% and Aave’s TVL lost 21.12% last month.
Two protocols saw substantial 30-day TVL gains which include Aave’s version three (v3) and Tron’s Sunswap protocol. During the last 24 hours alone, the TVL in defi has slipped by 6.25% in value, and the largest protocol by TVL today is Curve Finance. As of Sunday afternoon (ET), Curve’s $17.24 billion TVL currently dominates the aggregate by 9.46%.
Ethereum still dominates the TVL challenge by 55.59%, with $101.32 billion of the $182.27 billion TVL being held on the ETH chain. Terra is the second largest, in terms of TVL defi, as Terra’s $23.44 billion represents 12.86% of the TVL defi aggregate. Finally, Binance Smart Chain (BSC) is the third largest challenge blockchain with 6.37% of the total, or around $11.6 billion today.
In terms of the top smart contract platforms with tokens by market capitalization today, the entire lot is valued at $546 billion. However, the top smart contract tokens have lost 6.1% in collective value during the past 24 hours. Although, tron (TRX) has managed to jump 5.3% higher during the last day.
One of the biggest losers today, in terms of smart contract platform tokens, was the counterparty (XCP), as the coin lost 19.4%. Terra (LUNA) was also a big percentage loser, losing double digits in the past 24 hours, as LUNA lost 11.1% in USD value today. The 30-day stats also show that Inter-Channel Bridge TVLs are also down 21.1%. There is currently $16.78 billion TVL on a myriad of blockchain bridges.
The top three ranking cross-chain bridge TVLs today include Polygon, Avalanche, and Arbitrum respectively. The top three crypto assets leveraged on cross-chain bridges today include USDC, wrapped ethereum (WETH), and tether (USDT). While the entire crypto economy has lost 5.1% in value over the last 24 hours down to $1.65 trillion, it’s likely the value locked in defi will follow.
