Total Value Locked Across Multiple Defi Chains Nears $200 Billion — Ethereum’s TVL Dominance 69%

Total Value Locked Across Multiple Defi Chains Nears $200 Billion — Ethereum"s TVL Dominance 69%

While the crypto economy has seen a decent uptick in performance during the first week of October, a number of decentralized finance (defi) tokens have seen tremendous gains. Furthermore, the total value locked in defi has risen to $195 billion, jumping more than 14% over the last two weeks from $171 billion. Defi Tokens Skyrocket, Total Value Locked in Dapps Grows to $195 Billion, Axie Infinity, Shiba Inu See Top Gains

Digital currency markets of all sorts are seeing some gains this week and defi coins and smart contract tokens have all seen significant rises during the last seven days. Weekly metrics show that crypto-assets like QTUM spiked 42%, terra (LUNA) jumped 37%, binance coin (BNB) gained 23%, and solana (SOL) rose by 22%. On Monday, October 4, 2021, defillama.com metrics show the total value locked (TVL) in defi is $195.88 billion.

Other notable double-digit seven-day gainers include tokens like arweave (AR), DYDX, hedera (HBAR), and vechain (VET). The two mega gainers this week include axie infinity (AXS) up 119.8% and shiba inu (SHIB) up 92.3% during the last seven days. Meanwhile, the total value locked (TVL) in defi protocols today is roughly $195 billion, up more than 14% since September 18.

The defi protocol Curve has the largest dominance at the time of writing with 7.52% of the TVL. At the time of writing, Curve has around $14.71 billion TVL which is followed by the Aave protocol’s $14.65 billion. While five chains are compatible with Curve, only three blockchains can connect with Aave. Ethereum Captures 69% of Defi TVL, While Alternative Chains Command Roughly 26%

Ethereum (ETH) still commands the most funds in terms of TVL for different blockchains with $135.05 billion today, or 69.2% of the entire defi total value locked. TVL metrics for the Binance Smart Chain (BSC) show around $17.03 billion. The BSC protocol’s TVL is only 12.59% of the aggregate total value locked on the ETH blockchain. Top 12 defi blockchains in terms of total value locked on October 4, 2021, according to defillama.com stats.

BSC is followed by chains like Solana ($11.5B), Terra ($10.07B), Polygon ($4.6B), Avalanche ($4B), Fantom ($2.31B), and Waves ($1.85B), respectively. Between Waves TVL and the Binance Smart Chain TVL, the seven blockchains have 26.15% of the $195 billion.

Currently, Curve is the top decentralized exchange (dex) according to defillama.com’s dashboard and Curve is followed by Sushiswap, Pancakeswap, Uniswap, Balancer, and Saber, respectively.

Three of the aforementioned dex platforms (Saber, Pancakeswap, Uniswap) are all single chain dex applications, while Curve connects with five crypto networks. Sushiswap is compatible with 13 blockchains, and Balancer connects with three chains.

What do you think about the growing activities tied to the decentralized finance (defi) space? Let us know what you think about this subject in the comments section below. Compound Facing More Problems: More Than $140 Million in Tokens up for Grabs DEFI | 12 hours ago Third-Largest Bank in France Societe Generale Proposes Use of Defi Protocol Makerdao DEFI | 4 days ago Tags in this story Aave, Balancer, Binance Smart Chain, blockchains, BSC, Chains, Curve, decentralized exchange, decentralized finance, DeFi, Defi Blockchains, Defi Total Value Locked, Defi TVL, defillama.com, DEX, Dex Platforms, ETH, Ethereum, HBAR, LUNA, Pancakeswap, Protocols, Qtum, Saber, Solana, Sushiswap, Terra, total value locked, TVL, uniswap

Image Credits: Shutterstock, Pixabay, Wiki Commons, defillama.com Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments