IMG-LOGO

Value Locked in Defi Stalls Before Reaching the $100 Billion Mark, Cross-Chain Bridge Statistics Crater

News Feed - 2022-08-03 01:08:40

Value Locked in Defi Stalls Before Reaching the $100 Billion Mark, Cross-Chain Bridge Statistics Crater


During the last few weeks, the total value locked (TVL) in decentralized finance (defi) has come awfully close to reaching the $100 billion mark again, but it fell short this week. Today, the value locked across the defi ecosystem is $86.22 billion as the TVL has lost 3.34% during the past 24 hours. Value Locked in Decentralized Finance Falls Short From Tapping $100 Billion


On August 2, 2022, the value locked in decentralized finance (defi) protocols is around $86.22 billion, according to defillama.com metrics. Makerdao dominates the pack by 9.67% with the protocol’s $8.34 billion locked.


Today’s defi TVL is down 3.34% but the value has been steadily rising since the low of $69 billion recorded in mid-June. The TVL has seen a 24.95% rise since that low in mid-June and the value locked managed to reach $89.84 billion on July 29. Today’s total value locked in decentralized finance (defi) on August 2, 2022.


Out of all the defi supporting blockchains, Ethereum is still the dominant leader capturing 65.20% of today’s TVL with approximately $55.84 billion locked on August 2. Binance Smart Chain (BSC) follows Ethereum with $6.64 billion locked which equates to 7.75% of the $86.22 billion. The total value locked on all chains, according to defillama.com. Ethereum dominates the $86.22 billion by 65.20% with $55.84 billion locked on August 2.


Tron is the third largest today in defi, with $5.78 billion locked, which represents around 6.75% of the TVL in defi. While Makerdao is the largest defi protocol, the application’s TVL rose by 5.91% this past week. Instadapp, Lido Capture Double-Digit Monthly Gains — Cross-Chain Bridge TVL Slides More Than 60% This Past Month


Seven-day statistics show that out of the top ten largest defi protocols in terms of TVL, Instadapp saw a 27.38% increase. The liquid staking defi protocol Lido jumped by 13.63% this past week and Convex Finance saw an 11.18% increase.


All of the top ten defi apps saw TVL gains this week and also saw gains during the past 30 days. Instadapp, which is in the tenth position, saw a 49.14% monthly TVL increase, and Lido’s TVL swelled by 44.50% over the last 30 days.


The cross-chain bridge ecosystem has cratered as 30-day statistics show that it’s down ​​60.4% and the Nomad bridge exploit contributed to this month’s losses. The smart contract platform token market capitalization today is $333 billion, which is a 2.2% drop in the last 24 hours. Dune Analytics’ stats that show the value locked in cross-chain bridges is down more than 60% in 30 days.


The biggest smart contract platform token gainers during the past week were ethereum (ETH) and ethereum classic (ETC). ETH jumped 10.5% and ETC increased 54.9% against the U.S. dollar. Besides ETC, neblio (NEBL) jumped 121.5% this past week and oasis network (ROSE) increased by 72.5%. Tags in this story Binance Smart Chain, convex finance, Cross-chain Bridges, decentralized finance, decentralized finance protocols, DeFi, Defi metrics, defi records, defi stats, ether, Ethereum, Ethereum (ETH), Instadapp, Lido, makerdao, Market Dominance, Nomad bridge exploit, Smart Contract, smart contract platform coin, TVL


What do you think about the recent decentralized finance (defi) market action and the cross-chain bridge TVL plummeting? 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 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Defi TVL and Smart Contract Platform Tokens Swell in Value With ETH, ETC Leading the Pack DEFI | Jul 22, 2022 100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao"s Stablecoin Vault DEFI | Jul 11, 2022


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: DOT Drops Below $8.45 Resistance Level, as CRO Rises to Multi-Week High  Next articleCross-Chain Bridge Nomad Loses $190 Million Making It 2022’s Third-Largest Crypto Heist 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 ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing