As the crypto economy nears the $2 trillion mark, the total value locked (TVL) in decentralized finance (defi) has risen above the $200 billion zone after slipping below that range for most of the year. While the TVL in defi dropped 0.51% during the last 24 hours, statistics show the TVL today is hovering around $210.29 billion with Curve Finance dominating by 8.75%.
Defi TVL Rebounds, Ethereum Classic Spikes, Weekly NFT Sales Increase by 32%
- The value locked in decentralized finance has once again risen above the $200 billion mark as it’s been coasting along at $210.29 billion on March 20, 2022. At the end of January, the TVL in defi dropped to a low of $185.20 billion and since then, it’s jumped 13.54% to today’s value.
- The defi protocol Curve Finance, which operates on eight different blockchains, dominates the hundreds of defi protocol TVLs by 8.75% with $18.41 billion. The second-largest defi protocol in terms of TVL on March 20, is the Makerdao protocol with $16.2 billion total value locked. Curve and Makerdao are followed by Lido, Anchor, and Aave respectively.
- Terra’s Anchor protocol is now the largest lending defi protocol by TVL with $14.08 billion, while the lending protocol Aave holds $12.83 billion.
- In terms of TVL dominance among the several blockchains that support defi protocols, Ethereum dominates the $210.29 billion with 54.92% or 115.27 billion total value locked. Ethereum has a total of 570 different decentralized finance protocols with various TVLs on March 20.
- Terra is the second-largest defi chain as far as TVL is concerned, with $26.66 billion or 12.7% of the entire TVL in defi today. Terra is followed by Binance Smart Chain ($12.03B), Avalanche ($11.13B), Solana ($7.01B), and Fantom ($6.62B), respectively.
- On March 20, the top smart contract platform coins by market valuation equate to $642 billion in value. The top five smart contract platform coins by market cap include ethereum, binance smart chain, terra, solana, and cardano.
- The top five 24 hour smart contract platform coin gainers include ethereum classic, moonriver, qtum, boba network, and neo. Ethereum classic has gained 21.9% during the last 24 hours.
- The top five seven-day smart contract platform coin gainers include edenchain, ethereum classic, kylin network, gather, and casper network respectively. Edenchain (EDN) jumped 39.2% during the last seven days.
- In terms of market dominance between bitcoin (BTC) and the smart contract platform coin ethereum (ETH), BTC dominates the $1.9 trillion crypto economy by 40.4% and ETH dominates by 17.7%.
- Ethereum’s market cap is 43.8% away from rising above BTC’s market cap and at the time of writing, ETH’s 24-hour block reward revenue is larger than BTC’s revenue. Over the last day, ETH miners have captured $79,645,721 while BTC miners captured $74,790,000 in rewards.
- The total value locked on cross-chain bridges on Sunday is $22.78 billion with 49,845 unique addresses leveraging cross-chain bridge tech in defi.
- Over the last seven days, $529,519,374 in non-fungible token (NFT) sales were recorded across 15 different blockchains. The $529 million is up 32.10% from last week’s NFT sales volume.
What do you think about all the defi, NFT, and smart contract platform coin action this week? Let us know what you think about this subject in the comments section below.