During the last few weeks, the total value locked (TVL) in decentralized finance (defi) has come awfully close to reaching the $100 billion mark again, but it fell short this week. Today, the value locked across the defi ecosystem is $86.22 billion as the TVL has lost 3.34% during the past 24 hours.
Closing Values Less Than $100 Billion Tapping in Decentralized Finance
According to defilama.com metrics, the decentralized finance (DeFi) protocol has a closing value of approximately $86.22 billion as of August 2, 2022. MakerDAO dominated the pack at 9.67%, with $8.34 billion locked in the protocol.
Today’s defi TVL is down 3.34% but the value has been steadily rising since the low of $69 billion recorded in mid-June. The TVL has seen a 24.95% rise since that low in mid-June and the value locked managed to reach $89.84 billion on July 29.
Of all the DeFi supporting blockchains, Ethereum is still the dominant leader, capturing 65.20% of today’s TVL, with approximately $55.84 billion locked in on August 2. Binance Smart Chain (BSC) follows Ethereum with a lock of $6.64 billion, which is equivalent to 7.75% of the $86.22 billion. ,
Tron is the third largest today in defi, with $5.78 billion locked, which represents around 6.75% of the TVL in defi. While Makerdao is the largest defi protocol, the application’s TVL rose by 5.91% this past week.
Instadap, Lido Capture Double-Digit Monthly Gains – Cross-Chain Bridge TVL Slides Over 60% Last Month
Seven-day statistics show that out of the top ten largest DeFi protocols in terms of TVL, Instadap saw an increase of 27.38%. Liquid staking DeFi protocol Lido saw a 13.63% increase and Coinvax Finance 11.18% last week.
All of the top ten defi apps saw TVL gains this week and also saw gains during the past 30 days. Instadapp, which is in the tenth position, saw a 49.14% monthly TVL increase, and Lido’s TVL swelled by 44.50% over the last 30 days.
The cross-chain bridge ecosystem has cratered, according to 30-day data, it is down 60.4% and the exploits of Nomad Bridge contributed to this month’s losses. The smart contract platform token market cap today stands at $333 billion, a 2.2% drop over the past 24 hours.
The biggest smart contract platform token gainers during the past week were ethereum (ETH) and ethereum classic (ETC). ETH jumped 10.5% and ETC increased 54.9% against the U.S. dollar. Besides ETC, neblio (NEBL) jumped 121.5% this past week and oasis network (ROSE) increased by 72.5%.
