Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum’s Defi Dominance Loses 14%

Value Locked in Defi Sheds $55 Billion in 2 Months, Ethereum"s Defi Dominance Loses 14%

The crypto-economy has been sliding in value during the last 48 hours as the current market valuation for all 13,000+ crypto assets is $1.83 trillion. Furthermore, the total value locked (TVL) in decentralized finance (defi) protocols has slipped below the $200 billion mark to $196.02 billion on Sunday morning (EST). Meanwhile, Ethereum’s dominance is 55.54% of the current aggregate TVL held in defi today with $108.88 billion. Value Locked in Defi Protocols Sink, Ethereum Loses Decentralized Finance Dominance

The value in defi protocols has slipped from the $251 billion mark at the end of December 2021, to today’s current $196.02 billion. That’s a drop of around 21.91% in USD value during the last two months.

On Sunday, March 6, 2022, the current TVL held in defi has increased 0.11% during the last 24 hours with Curve Finance dominating the protocol pack. Curve’s $17.88 billion TVL represents 9.12% of the TVL held in defi, as it increased 0.64% during the last week. Curve is followed by Makerdao ($15.15B), Lido ($12.79B), and Convex Finance ($12.58B). Value locked in decentralized finance (defi) on Sunday, March 6, 2022.

Ethereum still dominates the TVL in defi this weekend, but only by 55.59%, according to defillama.com chain stats. On October 5, 2021, ETH defi dominance was 69% and over the last five months, it shed 14% dominance. Today, Terra holds the second-largest defi TVL with $22.67 billion locked, and more than half locked into the Anchor protocol.

Terra is followed by BSC ($11.71B), Avalanche ($10.74B), and Fantom ($7.69B) in terms of TVL held in defi protocols on Sunday. Solana’s defi TVL this weekend is $6.83 billion down more than 5% during the last seven days.

At press time, there are 381 decentralized exchange (dex) platforms holding a combined TVL of around $64.65 billion. Coingecko.com data shows Uniswap v3 is the top dex this weekend with $856.6 million in 24-hour volume.

Uniswap v3 is followed by Pancakeswap ($317M), Spookyswap ($270M), Curve ($155M), and Astroport ($155) in terms of daily dex volumes. The top three leading smart contract platform tokens in terms of seven-day gains include waves (WAVES) up 51% this week, lisk (LSK) up 28.9% and wanchain (WAN) jumped 23.6%.

On March 6, there’s currently $23.37 billion total value locked in cross-chain bridges to Ethereum, according to Dune Analytics’ metrics. Leading cross-chain bridge TVLs include blockchains like Avalanche, Polygon, Fantom, Ronin, and Arbitrum respectively.

Presently there are 25 decentralized finance (defi) oracles and Chainlink dominates the pack. Chainlink secures $52.23 billion in value across 141 protocols, as it has an oracle dominance of around 54.83% on Sunday morning. Tags in this story Aave, Arbitrum, Avalanche, Balancer, Binance Smart Chain, blockchains, Bridges, BSC, Chains, Curve, decentralized exchange, decentralized finance, DeFi, Defi Blockchains, Defi Total Value Locked, Defi TVL, defillama.com, DEX, Dex Platforms, ETH, Ethereum, LUNA, Pancakeswap, Protocols, Solana, Sushiswap, Terra, total value locked, TVL, uniswap

What do you think about the activities tied to the decentralized finance (defi) space? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Value Locked in Defi Rebounds — Smart Contract Tokens CPH, LUNA, XCP Lead the Pack DEFI | 7 days ago Relatively Unknown Protocols Push TVL in Defi Above the $200 Billion Range DEFI | Feb 15, 2022

Image Credits: Shutterstock, Pixabay, Wiki Commons, defillama.com, Previous articleBitcoin, Ethereum Technical Analysis: ETH Prepares for Rally, While BTC Seeks Support Next articleTechnical Analysis: Record Broken, as ANC Falls Over 20% on Sunday 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 More Popular NewsIn Case You Missed ItStarlink Terminals Arrive in Ukraine as Elon Musk Makes Good on Promise

Spacex has managed to deliver Starlink equipment to Ukraine as promised by its founder, Elon Musk. The hardware will provide access to high-speed internet for users in the country, which has been experiencing disruptions in communications as a result of ... read more.South African Mobile Network Operator MTN Buys Land in the Metaverse Cambridge Centre for Alternative Finance Launches Digital Assets Research Project With 16 Banks Square Enix to Bring Dungeon Siege IP to The Sandbox Mobius Capital Founder Explains Why Bitcoin Is Rallying Amid Russia-Ukraine War