Value Locked in Defi Climbs 13% Higher Since Last Week's Low, SOL Price Jumps 25%, AVAX TVL Spikes
The total value locked (TVL) in decentralized finance (defi) has jumped back above the $200 billion range, hovering around $216.49 billion on Saturday morning (EST). The TVL in defi has increased 13.60% since tapping a low of $190.57 billion 13 days ago on January 23. The decentralized exchange (dex) Curve’s $19.41 billion TVL dominates the total value locked by 8.84%
Ethereum’s Defi TVL Dominates by 61% Increasing 10% During the Last Week, Cross-Chain Bridge Value Jumps 16.2% in 30 Days
The value locked in decentralized finance (defi) has climbed higher since the low it saw on January 23 dropping $10 billion below the $200 billion mark. Today the TVL is 13.60% higher as the value locked has increased a great deal during the last few days.
The protocol Uniswap’s TVL jumped 9.44% during the last seven days, Balancer increased by 9.25%, and this week Makerdao’s TVL swelled by 9.10%. Furthermore, smart contract platforms, in terms of market capitalization have increased their overall value to $674 billion up 8.3% in the last 24 hours.
The top smart contract platform token ethereum (ETH) has seen its value swell by 18.5% in the last seven days. Binance coin (BNB) jumped 8.8% this week, and cardano’s (ADA) value increased by 9.3%.
At the same time, solana (SOL), polkadot (DOT), terra (LUNA), and avalanche (AVAX) saw double-digit weekly gains. SOL climbed the highest this past week, jumping 25.6% against the U.S. dollar.
In terms of defi TVL per blockchain, Ethereum still rules the roost with 516 defi protocols and $135.78 total value locked today. ETH’s TVL represents 61.41% of the entire $216.49 billion locked in defi. The second-largest defi chain is Terra with the network’s 17 defi apps commanding $14.67 billion in value today.
While Ethereum saw a seven-day change by increasing its TVL by 10%, Terra’s defi TVL jumped 7.49%. Avalanche (AVAX) saw one of the largest jumps this week in the top ten TVLs by chain with a 19.38% increase to $10.08 billion.
Cross-chain bridge TVLs have increased during the last month by 16.2% and today, there’s $25.11 billion locked across various bridges. While Polygon’s bridges lead the pack with a $5.59 billion TVL, Avalanche has $5.53 billion locked on Saturday.
Wrapped ethereum (WETH), ethereum (ETH), and USDC are the most leveraged crypto assets on cross-chain bridges this weekend.
What do you think about this week’s defi action and smart contract token markets? Let us know what you think about this subject in the comments section below.
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