Originally released On: 31 JAN 2022 via Bitcoin.com (Link below) by Jamie Redman.
DeFi TVL Climbs More Than 5%, Ethereum DeFi Dominance Still 60%, Cross-Chain Bridge TVL Jumps 13.5%
On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalisation is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralised finance (DeFi) protocols is $192.42 billion up 5.28% since January 23.
At the end of the week, crypto asset prices have rebounded from the market carnage that took place seven days ago. During the last week, the top two leading crypto assets bitcoin (BTC) and ethereum (ETH) have gained 7% to 9% in value against the U.S. dollar.
A week ago today, the TVL in DeFi dropped under the $200 billion mark and hit a low of $182.76 billion on January 23. Since then, the TVL has increased by 5.28% to $192.42 billion, according to Sunday’s defillama.com metrics.
Terra has $13.17 billion locked and the UST staking protocol Anchor commands 53.38% of Terra’s TVL. Binance Smart Chain (BSC) is holding down the third-largest TVL position with $12.08 billion locked. The BSC DeFi protocol and decentralised exchange (DEX) Pancakeswap’s $4.26 billion captures 35.22% of the TVL in the BSC’s DeFi platforms.
One of the biggest seven-day gainers in terms of DeFi TVL held on a blockchain was Polkadot’s (DOT) 47.89% climb. DOT currently has the tenth largest DeFi TVL with $1.24 billion locked.
Cross-chain bridge TVL rates jumped 13.5% during the last 30 days according to Dune Analytics statistics. At the time of writing on January 30, 2022, there’s $19.95 billion locked into cross-chain bridge platforms with Polygon commanding the top bridge TVL.
Polygon has $5.4 billion today, while the second-largest bridge TVL is Avalanche with $5 billion. Out of the top smart contract protocols by market capitalization, the blockchain token telos (TLOS) saw the largest seven-day gains. The tokens poa network (POA) and terra (LUNA) saw the biggest weekly losses slipping 21.9% (LUNA) and 36.3% (POA).
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