all about cryptop referances
As of December 12, 2022, the total value locked (TVL) in decentralized finance (defi) has been capped after falling 25.5% from $55.94 billion on November 5 to today’s $41.67 billion. Over the past 12 months, TVL in defi has also dropped 82.56% from approximately $239 billion in December 2021, to today’s aggregate.
Decentralized finance (defi) has suffered greatly from the FTX fiasco as total value locked (TVL) in defi has lost 25.5% in value in 37 days. At the time of writing, TVL in defi today is an estimated $41.67 billion, and TVL has fallen 1.63% in the last 24 hours.
The defi protocol Makerdao commands the largest TVL today with $6.26 billion in value locked, and a dominance rating of 15.02% against the rest of the defi protocols’ TVL standings. Defillama.com calculations indicate that Makerdao’s TVL over the past month shrank by 8.41%.
After Makerdao, the best defi protocols in terms of TVL size include Lido, Aave, Curve, Uniswap, Convex Finance, Justlend, Pancakeswap, Compound Finance and Instadapp respectively. Out of the entire top ten, Aave suffered the biggest monthly loss after it fell 15.18% in value in 30 days.
On the other hand, Convex Finance’s TVL metrics increased by 43.87% over the past month. Ethereum has the most value locked out of all the blockchains with $23.98 billion or 57.55% of the total locked in defi today.
Binance Smart Chain (BSC) has the second largest TVL as of December 12, with an estimated $4.99 billion or 12.04% of the total. In terms of TVL size, Ethereum and BSC are followed by blockchain networks Tron, Arbitrum, Polygon, Avalanche, Optimism, Fantom, Cronos and Solana.
The total seven-day volume, across all bridges across chains on December 12, is an estimated $810.67 million. The smart contract platform’s entire token economy is currently $261 billion, down 2.3% in the last 24 hours.
In the last 62 days or since October 11, 2022, the smart contract platform token economy has decreased 7.77% against the US dollar from $283 billion to today’s $261 billion. At the time of writing, the largest smart contract crypto asset, ethereum (ETH), is down 1.6% against the dollar in the last 24 hours.
What do you think of the current state of decentralized finance this week? Let us know what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for damages or losses caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
