The total value locked (TVL) in decentralized finance (defi) has slid 8.53% over the last five days since August 14, 2022. At the time, the TVL was $67.87 billion but today, the value locked in defi is approximately $62.08 billion. Moreover, the top smart contract platform tokens by market valuation today are worth $372 billion, but overall the dozens of smart contract crypto assets have lost 7.8% in value during the last 24 hours.
The decline in the smart contract token economy, since August 14, the total value closed in DeFi loss by 8.53%
On August 19, 2022, top smart contract tokens such as Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Solana (SOL), Polkadot (DOT), and Avalanche (AVAX) are down in value. U.S. Dollar. As of today’s market data, there are dozens of smart contract tokens and they are collectively worth $347 billion, a decrease of 7.8%.
Ethereum leads the pack with the largest market capitalization as ETH now commands 19.2% of the crypto economy’s $1.14 trillion in value. Out of the entire lot of smart contract coins worth $347 billion, ETH’s $208 billion market cap represents 59.94% of the top smart contract tokens by valuation.
At the same time, the smart contract crypto economy is equivalent to approximately 32.12% of the $1.08 trillion valuation of the crypto economy. While the market performance of top smart contract tokens has been weak, the closing price in DeFi has remained the same. $62.08 billion in value exists today, locked in multiple DeFi protocols and statistics from defilama.com detail the protocols dominating 13.45% of MakerDAO.
Data shows that the defi protocol Makerdao’s TVL on August 19, is around $8.35 billion. Following Makerdao’s TVL, today’s top defi protocols by TVL include Lido ($7.62B), Aave ($6.91B), Curve Finance ($5.98B), Uniswap ($5.88B), Convex Finance ($4.32B), and Justlend ($3.27B). In terms of the blockchain with the largest TVL metric, Ethereum is still the reigning champ with $36.31 billion or 59.04% of the TVL in defi.
Ethereum is followed by Tron, Binance Smart Chain, Polygon, Avalanche, Solana, Chronos, Arbitrum, Optimism and Phantom respectively. Compared to Ethereum, Tron, the second largest blockchain by DeFi TVL metrics, commands 9.15% of the $5.63 billion or $62.08 billion locked in the DeFi protocol today.
While the tenth-largest blockchain by defi TVL data, Fantom, has around $588 million or 0.96% of the TVL in defi, Justlend is the largest defi protocol on the Tron network as it dominates by 58.14% of the network’s $5.63 billion locked in defi, or $3.27 billion in USD value. Binance Smart Chain’s largest defi protocol is Pancakeswap, Polygon’s is MM Finance, Avalanche’s largest is Aave, and Solana’s is Marinade Finance.
With Ethereum being the top DeFi chain, the network’s top collateralized debt position (CDP) protocol is MakerDAO, the largest liquid staking application is Lido, and Uniswap controls the roost in the case of the Ethereum decentralized exchange (DX) platform. Aave is Ethereum’s largest lending application, the WBTC bridge has the highest value locked, and Convex Finance is Ethereum’s top yield protocol in the case of TVL.
