As of Sunday, January 30, 2022, the top smart contract protocol tokens by market cap are worth $592 billion, or 32.66% of the $1.8 trillion cryptoeconomy. Meanwhile, the total value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion, up 5.28% since January 23. Defi TVL jumps more than 5%, Ethereum Defi dominance still 60%, cross-chain bridge TVL jumps 13.5% At the end of the week, crypto asset prices have recovered from the market carnage seven days ago. In the last week, the two leading crypto assets Bitcoin (Bitcoin) and Ethereum (ETH) have...
As of Sunday, January 30, 2022, the top smart contract protocol tokens by market cap are worth $592 billion, or 32.66% of the $1.8 trillion cryptoeconomy. Meanwhile, the total value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion, up 5.28% since January 23.
At the end of the week, crypto asset prices have recovered from the market carnage seven days ago. In the last week, the two leading crypto assets have gained Bitcoin ( Bitcoin ) and Ethereum ( ETH ) have gained 7% to 9% in value against the US dollar.
A week ago today, TVL in Defi fell below the $200 billion mark, reaching a low of $182.76 billion on January 23rd. Since then, TVL has increased 5.28% to $192.42 billion as of Sunday, according to defillama.com Metrics.
Curve Finance, available on eight different blockchain networks, boasts a 9% dominance amid TVL of $192 billion with $17.31 billion locked. However, Curve's TVL lost 11.21% in value over the week.
The second largest Defi protocol is Makerdao with $15.81 billion locked and the third largest is Convex Finance with a TVL of $12.03 billion. With reference to TVL through blockchains, Ethereum currently has $117 billion of the $192 billion TVL in Defi today.
The $117 billion locked between 509 Ethereum Defi protocols represents 60.80% of the total Defi TVL as of January 30, 2022. Additionally, Terra's blockchain has around 17 Defi protocols and is now the second largest blockchain by TVL in Defi.
Terra has $13.17 billion locked up and UST staking protocol Anchor has 53.38% of Terra's TVL. Binance Smart Chain (BSC) holds the third largest TVL position with $12.08 billion locked. BSC's $4.26 billion Defi protocol and decentralized exchange (Dex) Pancakeswap capture 35.22% of the TVL in BSC's Defi platforms.
Fantom (FTM) has a TVL of $9.42 billion as of Sunday, which is the fourth largest Defi TVL. FTM’s Multichain has a dominance valuation of 58.24% of Fantom’s TVL at $5.49 billion. The fifth largest Defi chain today is Avalanche (AVAX) with a TVL of $8.72 billion, and Aave has 27.33% of the TVL with $2.38 billion locked.
One of the biggest seven-day winners in terms of Defi TVL held on a blockchain was Polkadot (DOT)'s 47.89% increase. DOT currently has the 10th largest Defi TVL with $1.24 billion locked.
Cross-chain bridge TVL rates is up 13.5% in the last 30 days, according to statistics from Dune Analytics. At the time of writing on January 30, 2022, $19.95 billion is locked in cross-chain bridge platforms, with Polygon commanding the top bridge TVL.
Polygon is now at $5.4 billion, while the second largest bridge TVL is Avalanche at $5 billion. From the Top Smart Contract Protocols By market capitalization, blockchain token Telos (TLOS) posted the largest seven-day gains. The poa network (POA) and terra (LUNA) tokens recorded the largest weekly losses, falling by 21.9% (LUNA) and 36.3% (POA).
What do you think about this week's action in the world of decentralized finance? Let us know your thoughts on this topic in the comments section below.
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