As the crypto economy collapses, the total value locked in Defi continues to rise - Defi

About nine days ago, the total value (TVL) in decentralized finance (defi) across various blockchains was around $176 billion. At the time, the fiat values ​​of Bitcoin ($49,937) and Ethereum ($3,886) were much higher. Despite the fact that the crypto economy and these coins have lost value, the TVL via Defi has continued to rise, increasing by more than 5% to $185.32 billion.

Defi TVL across all chains increases by more than 5% in 9 days

Decentralized finance (defi) has attracted billions of dollars, and at the time of writing, the total value locked across a variety of blockchains is around $185.32 billion. That's about 5.113% more than the TVL nine days ago.

Statistics from the defillama.com Dashboard shows that there has been an increase of 2.10% in the last day and the Defi platform Aave has the highest dominance in terms of TVL (7.40%). In the last day, Aave is up 2.69%, but 7-day metrics show Aave's TVL is down 4.23% to $13.1 billion.

One would assume that the TVL held in Defi would have lost value following the price of Ethereum ( ETH ) lost a few percent of its value. However, this is not the case as a number of other blockchains have seen TVL values ​​increase.

In our last one Test report On this topic, there was around $130 billion of Ether locked in Defi. Today, Show metrics that the current Ether TVL is $128.1 billion. Seven-day Ether TVL changes show that Ether's TVL increased by 0.23% and Solana's TVL increased by 100% in a week.

Solana, Terra, Avalanche, Arbitrum Weekly Defi TVL Percentages Climb Higher

Solana (SOL) has positioned itself as the third-largest Defi TVL in the entire crypto economy with $11.54 billion as of Tuesday. Terra (LUNA)'s TVL has also surged, rising 47.66% to a TVL of $10.38 billion today.

Both Binance Smart Chain (BSC) and Polygon (MATIC) have lost TVL percentage points as they are older blockchain protocols compared to newer concepts such as SOL, LUNA, AVAX and Arbitrum. While BSC is down 1.09% in the last seven days, it is still the second-largest TVL leader in terms of Defi blockchains at $16.6 billion.

Similarly, Polygon’s TVL is the fifth largest in Defi and currently has around $4.71 billion locked. Avalanche (AVAX) is another Defi newbie that has risen into Defi in terms of TVL.

In a week, AVAX's TVL has increased by 17.44% to $2.37 billion. Arbitrum One is up a massive 7.449% to currently 1.76 billion TVL. According to statistics, the meme token NYAN has driven a huge amount of money into the Arbitrum One protocol. Other Defi chains that have seen notable increases in TVL include networks like Okexchain, Celo, and Osmosis.

What do you think about the Total Value Locked (TVL) in Defi increasing in value across different blockchains? Let us know your thoughts on this topic in the comments below.

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