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Over the past 125 days or roughly four months, the total value locked (TVL) in decentralized finance (defi) has been capped within the $50 billion to $65 billion region. TVL in defi has lost significant value over the past six months as it fell from $161 billion on April 1, down more than 67% lower to today’s $51.72 billion.
The Defi action has dropped a lot in terms of the total value locked up in the last six months. As of Saturday, October 22, 2022, TVL in defi is around $51.72 billion, with collateralized debt position (CDP) protocol Makerdao commanding 14.76% of all TVL with $7.64 billion Saturday morning (ET).
In addition to Makerdao, Lido, Curve, Aave and Uniswap make up the five largest TVLs today. The floating stake protocol Lido is just below Makerdao with a TVL of around $6 billion and $5,839,046,587 of Lido’s TVL is staked ethereum (ETH).
Makerdao recorded a 30-day gain as TVL jumped 4.82% higher last month. Sushiswap saw a noticeable increase, rising 41.27% in the last 30 days, and the return protocol Aura jumped 38.70% in the last month.
Of all the blockchains today, Ethereum is the most dominant in terms of defi TVL with about 57% of the entire $51.72 billion locked in defi today. ETH has around $29.56 billion, while the second largest TVL of blockchain, Binance Smart Chain (BSC) has $5.32 billion or 10.33% of its total value locked up.
Besides ETH and BSC, Tron, Avalanche, Polygon and Arbitrum follow behind, respectively, when it comes to TVL with blockchain. Today, statistics show that there are 607 decentralized exchange protocols (dex) with $21.57 billion locked up.
There are 189 lending defi apps with $13.96 billion locked on Saturday and 57 CDP protocols yielding $10.37 billion. There are also a total of 45 liquid betting applications that have $7.91 billion in value today.
The value locked in cross-chain bridge platforms is also down 22% lower over the last 30 days. $7.80 billion is locked on decentralized cross-chain bridge platforms with a total of 13,178 unique depositor addresses.
Polygon leads the bridge pack with approximately $3.37 billion TVL, but TVL is down 6% in the past month. Arbitrum has around 1.44 billion dollars which is down 2% lower than the previous month.
Polygon and Arbitrum bridges are followed by Optimism, Fantom and the Near Rainbow bridge. The smart contract platform token’s market capitalization today is worth $281 billion, and it has increased by 1.4% in the last 24 hours.
The top five smart contract platform tokens today in terms of market cap include ethereum (ETH), bnb (BNB), cardano (ADA), solana (SOL), and polkadot (DOT). ADA, SOL and DOT have lost between 3.4% and 6.8% in the past week. ETH and BNB have remained in the green for the past seven days, up between 0.3% to 0.8% in the past week.
What do you think about the current state of decentralized finance and smart contract platform tokens? Let us know what you think about this topic in the comments section below.
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