DeFi TVL Drops 5% as Tokens See Double-Digit Declines

Decentralize finance (DeFi) has seen its total value locked dropping to $250.55 billion from $257 billion since mid-November. Moreover, the TVL plummeted by over 5% within the past 24 hours. Within the last week, DeFi tokens such as Curve Dao, PancakeSwap, Sushi, 1inch, and Uniswap have low 15 – 24% of their values.

Decentralized Finance (DeFi) TVL Plummets

While writing this analysis, the total value locked in Decentralized finance across multiple blockchains stands at $250.55 billion (data from defillama.com). The overall DeFi value locked dropped by 5.08% over the past day. Meanwhile, the protocol Curve seems to dominate the TVLs with an 8.06% dominance.

The AMM (automated market maker) Curve boasts $20.24 billion TVL, up by 1.13% within the past week. Markedao takes the second position in the DeFi network as far as total value locked is concerned, with $18.56 billion at this publication. Meanwhile. Convex finance comes third with a $15.14 billion TVL today.

ETH DeFi TVL Dominance at 65%, BSC 6%, LUNA 5%

Total value locked per blockchain indicates that Ethereum (ETH) controls $164.36B of the total $250.55 billion in decentralized finance as of Sunday. BSC (Binance Smart Chain) commands $16.61 billion. Furthermore, it ranks 2nd largest chain as far as DeFi protocol total values locked is concerned.

Following Binance Smart Chain are Terra ($13.29 billion), Solana ($12.46 billion), Avalanche ($12.03 billion), and Tron ($5.48 billion). Out of the $250.55 billion value locked in decentralized finance, Ethereum dominates 65.58% while publishing this content. Meanwhile, BSC boasts 6.62% dominance, whereas Terra captures 5.31% of the TVL.

AMM and Rebase DeFi Tokens Plunge – TVL in Crosschain Bridge Drops 26% in a Month

Data from coingecko.com indicated that top AMM (automated market maker DeFi tokens had their overall market capitalization plunging by 13.6% towards $17.2 billion. Furthermore, Rebase tokens lost 5.1%, hitting $6.09 billion lows on Sunday.

The top AMM coin, Uniswap, has lost 15% over the past week. Others that follow include Curve Dao (-27.2%), 1inch (26.3%) PancakeSwap (16.7%), Bancor token (10.1%) and Sushi (23.9%).

Rebase tokens like Olympus (OHM) dropped 17% within the past week as Wonderland (TIME) declined by 18.5%. Klima Dao (KLIMA) remained 50.6% down over the previous seven days, while Ampleforth (AMPL) plunged by 17.7%.

Monthly data indicate cross-chain bridge total value locked fell 26.9%, and there is a $24.4B value locked in bridges to ETH (Dune Analytics data). Robin Bridge leads with $6.8 billion, followed by Avalanche and Polygon with $6.6 billion and $5.6 billion, respectively.