Value Locked in Defi Continues to Slide, ETH Defi Dominates by 65%, Solana Transactions Reign
statistics shows that decentralized finance tokens account for $132.6 billion, or approximately 5.79% of the $2.28 trillion crypto market. terra (LUNA) is the largest defi token by market capitalization. It has an 18% dominance rate and a market value of approximately $23.9 billion. Convex finance and yearn finance were the top performing defi assets over the past week. Convex finance saw a 26.3% increase in value, while yearn finance increased by 33%.
The defi tokens bonfida and tokemak (TOKE), suffered the worst weekly losses. Tokemak lost 31.6% last week, while bonfida lost 28.7% in USD values. Uniswap version 3, which has $2 billion in 24 hour volume, is the top decentralized exchange (dex). Uniswap version 3 is followed by Pancakeswap and Trader Joe. They have $2 billion in 24-hour volume.
$6.2 billion was spent on 24-hour dex trading volume, and there were 158,035,713 monthly visits for dex protocols. defillama.com reports that the total value locked (TVL), across a variety of blockchains, is $232 billion. Curve dominates at 9.17%. Curve has a TVL of $21.28 billion, and it supports seven blockchains.
Ethereum still dominates the Defi Landscape. Solana Transactions at 45 billion, Cross-Chain Bridge TVL Slides 3.4% last month
Ethereum is the most popular defi blockchain today, with $159.64 billion TVL. This equates to 65.44%. The second-largest defi blockchain is Binance smart chain (BSC). BSC’s $16.53 billion TVL was on Friday, which is approximately 6.77% of defi’s $243.94 trillion. BSC is followed by Terra, Solana and Avalanche as well as Tron, Tron, Polygon and Fantom. Fantom (3.52%), and BSC (1.75%) were the top-ten defi chains with a higher TVL percentage.
According to Coin98 Analytics , holds the lead in terms of total transactions for blockchain networks with 45 billion. Tron (2.68B), BSC (2.39B), Ethereum (1.39B), Polygon (2.19B), HECO (534M), Algorand (464M) are the other majors in transaction dominance. According to Coin98 Analytics metrics , Ethereum has 270 322 validators while Elrond has 3222.
The cross-chain bridge TVL is $22.73 billion today. The TVL has lost 3.4% in the past 30 days. Ronin Bridge holds the top spot with $6.4 billion. Avalanche ($5.88B), Polygon $55.83B), Arbitrum $2.3B, Fantom ($1.3B) and Optimism (433M) follow Ronin.