Value Locked in Defi Slides 21% in 2 Weeks, $200B TVL Still 10x Larger Than This Time Last Year

 

The value locked in decentralized finance (defi) has dropped
21.22% since January 4, 2022. At the time, the total value locked (TVL)
in defi was $255.84 billion and today, the TVL is around $201.55
billion.

 

TVL in Defi Loses $54 Billion in 2 Weeks

While digital currency markets shed significant value during the last
two weeks, the value locked in decentralized finance has also dropped
considerably. Since the first week of January, the TVL in defi shed
$54.29 billion in value.

Today, the TVL in defi is $201.55 billion
which is down 1.19% over the last 24 hours. While defi has seen a
significant dip in value, overall it has more than doubled its share of
the crypto economy.

In January 2021, the TVL in defi was around $20 billion and today it is $201.55 billion, jumping 10x over the last year.

Since the start of 2021, the share of defi in the crypto economy has
“more than doubled from 2.8% to an all-time high of 6.5%,” according to
stats from Coingecko.com’s annual crypto report.

At the time of writing, the defi protocol Curve Finance has a
dominance rating of 9.69% of the $201 billion locked. Curve is active on
eight different blockchains and has a TVL of around $19.53 billion.
Metrics show Curve’s TVL is down 16.34% over the last seven days. Curve
is followed by Makerdao, Convex Finance, Aave, and WBTC, respectively,
in terms of total value locked.

Ethereum Defi Dominance Still Reigns, Fantom’s TVL Jumps 59%

While the TVL in defi today is $201 billion, the value locked in
Ethereum is $119.04 billion. Ethereum’s TVL represents 59.06% of the
aggregate TVL across all defi protocols on Sunday morning (EST).

Terra’s blockchain commands $16.94 billion, followed by Binance Smart
Chain’s $12.22 billion. Fantom commands the fourth largest position in
terms of TVL held by a specific blockchain with $12.06 billion today.

Avalanche holds the fifth-largest position with $8.62 billion TVL and
Solana commands the sixth top spot with $8.12 billion. Terra’s largest
defi protocol is the application Anchor, BSC’s biggest is Pancakeswap,
and Fantom’s is the Multichain protocol.

Avalanche’s biggest defi protocol on Sunday is Aave and Solana’s is
the application Serum. While most blockchains shed value this past week,
Fantom’s TVL jumped 59.61% and Heco’s TVL spiked by 52.77% in seven
days.

source link :  https://news.bitcoin.com/value-locked-in-defi-slides-21-in-2-weeks-200b-tvl-still-10x-larger-than-this-time-last-year/

January 23, 2022