Over the past six days, the total value locked (TVL) in decentralized finance (DeFi) has fallen 9.21% from a high of $232.88 billion on April 5 to today’s $211.43 billion. The closing price in the DeFi protocol dropped 4.40% of that value during the last 24 hours.
This Week’s Closing Price in DeFi Shudders
While the crypto economy has shed billions, the Defi landscape has also felt the brunt of the storm. Last week, TVL in DeFi hit a record high, but much of that value has been wiped out since April 5. At the time of writing on Monday, April 11, 2022, DeFi holds TVL with $211.43 billion, which is 9.21%. Less than six days ago. Currently, the top DeFi protocol in terms of TVL is Curve Finance with a dominance rating of 9.52%. Curve’s TVL is around $20.12 billion, down 5.30% from the previous week.
The second largest DeFi protocol in terms of locked value is Lido, with $17.43 billion. However, Lido is down by 13.95% during the last seven days. Anchor, the third-largest DeFi protocol, has a net worth of $14.75 billion, but is down by 6.79% over the past week. Two DeFi protocols have risen over the past week, with Seabridge, up 35.34% and Platypus Finance up 22.44%. Of the $211 billion locked on Monday, Ethereum commands 55.59%, with a total of $117.52 billion.
Terra’s (LUNA) defi TVL is the second largest with 12.62% of $26.68 billion or $211.43 billion. The third largest DeFi TVL by blockchain is Binance Smart Chain (BSC) as the network currently generates $13.16 billion or 6.23% of the TVL in DeFi today. The TVLs of Ethereum, Terra and BSC are followed by the TVLs held on Avalanche and Solana respectively. Except for the Near Blockchain Network, which is up 22.57% over the past seven days, in the case of TVL the top 12 blockchains have declined in value over the past week.
Overall, the top smart contract platform coins by market capitalization have been down in value over the past week. 24-hour data shows the top smart contract platform’s $667 billion worth of coins is down 8.5%. As far as Ethereum’s cross-chain bridge is concerned, the cross-chain bridge has a TVL of $19.9 billion among 40,184 unique addresses. This figure is down 8.8% during the last 30 days.
What do you think about Def Action of the week and TVL losing $21 billion in six days? Let us know what you think about this topic in the comment section below.
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