Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum’s Defi Dominance Loses 14%

The crypto-economy has been sliding in worth over the past 48 hours as the present market valuation for all 13,000+ crypto belongings is $1.83 trillion. Furthermore, the overall worth locked (TVL) in decentralized finance (defi) protocols has slipped beneath the $200 billion mark to $196.02 billion on Sunday morning (EST). Meanwhile, Ethereum’s dominance is 55.54% of the present mixture TVL held in defi at this time with $108.88 billion.

Value Locked in Defi Protocols Sink, Ethereum Loses Decentralized Finance Dominance

The worth in defi protocols has slipped from the $251 billion mark on the finish of December 2021, to at this time’s present $196.02 billion. That’s a drop of round 21.91% in USD worth over the past two months.

On Sunday, March 6, 2022, the present TVL held in defi has elevated 0.11% over the past 24 hours with Curve Finance dominating the protocol pack. Curve’s $17.88 billion TVL represents 9.12% of the TVL held in defi, because it elevated 0.64% over the past week. Curve is adopted by Makerdao ($15.15B), Lido ($12.79B), and Convex Finance ($12.58B).

Ethereum nonetheless dominates the TVL in defi this weekend, however solely by 55.59%, in response to chain stats. On October 5, 2021, ETH defi dominance was 69% and over the past 5 months, it shed 14% dominance. Today, Terra holds the second-largest defi TVL with $22.67 billion locked, and greater than half locked into the Anchor protocol.

Terra is adopted by BSC ($11.71B), Avalanche ($10.74B), and Fantom ($7.69B) by way of TVL held in defi protocols on Sunday. Solana’s defi TVL this weekend is $6.83 billion down greater than 5% over the past seven days.

At press time, there are 381 decentralized trade (dex) platforms holding a mixed TVL of round $64.65 billion. knowledge reveals Uniswap v3 is the highest dex this weekend with $856.6 million in 24-hour quantity.

Uniswap v3 is adopted by Pancakeswap ($317M), Spookyswap ($270M), Curve ($155M), and Astroport ($155) by way of each day dex volumes. The top three main good contract platform tokens by way of seven-day positive aspects embrace waves (WAVES) up 51% this week, lisk (LSK) up 28.9% and wanchain (WAN) jumped 23.6%.

On March 6, there’s at present $23.37 billion whole worth locked in cross-chain bridges to Ethereum, in response to Dune Analytics’ metrics. Leading cross-chain bridge TVLs embrace blockchains like Avalanche, Polygon, Fantom, Ronin, and Arbitrum respectively.

Presently there are 25 decentralized finance (defi) oracles and Chainlink dominates the pack. Chainlink secures $52.23 billion in worth throughout 141 protocols, because it has an oracle dominance of round 54.83% on Sunday morning.

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