Value Locked In Defi Declines By $5.7 Billion Within 5 Days

Since August 14th, 2022, there has been an 8.53% decline in the total value locked (TVL) in the DeFi space in a span of 5 days.

The TVL of the decentralized finance (DeFi) space had stood at $67.87 billion at that day, but it had declined in five days to $62.08 billion.

In addition, the market valuation of the tokens of the smart contract platform is valued at $372 billion, but there has been a 7.8% loss in value of numerous smart contract crypto assets in 24 hours.

Smart contract tokens

The value of smart contract tokens on August 19th 2022, including avalanche (AVAX), polkadot (DOT), Solana (SOL), binance coin (BNB), ethereum (ETH) and cardano (ADA), declined against the US dollar.

The market data on August 19th showed that the total value of smart contract tokens was $347 billion, which was a loss of 7.8% for the day.

The largest market capitalization is that of Ethereum, which contributes 19.2% of the total value of the crypto economy at $1.14 trillion.

ETH’s market capitalization stands at $208 billion, which is around 59.94% of the value of smart contract tokens.

The entire smart contract tokens economy is about 32.12% of the total value of the crypto economy.

TVL in DeFi

While the market performance of the top smart contract tokens has been lackluster, the same is applicable to the total value locked (TVL) in the decentralized finance (DeFi) space.

Statistics show that the various DeFi protocols that exist today have a total of $62.08 billion locked and the biggest is the Makerdao protocol with a share of 13.45%.

According to the data, the TVL of the Makerdao protocol on August 19th stood at $8.35 billion. The TVL of other DeFi protocols includes Lido at $7.26 billion, Aave at $6.19 billion, and Curve Finance at $5.98 billion.

Then comes Uniswap at $5.88 billion, Convex Finance at $4.3 billion, and JustLend at $3.27 billion. Ethereum is the blockchain that has the largest TVL with $36.31 billion in DeFi.

Blockchains

The other blockchains that come after Ethereum are Tron, which commands a value of $5.63 billion, which is 9.15% of the TVL in DeFi, as opposed to the 59.04% of Ethereum.

Binance Smart Chain, Polygon, Avalanche, Solana, Cronos, Optimism and Fantom are the other big blockchains that come after Ethereum and Tron.

Fantom is the tenth-largest blockchain in the decentralized finance (DeFi) space in terms of TVL data, its TVL is $588 billion and this stands at 0.96%.

The largest DeFi protocol that exists on the Tron network is known as JustLend, as of the $5.63 billion locked on the network, it contributes 58.14%, which is around $3.27 billion.

The largest DeFi protocol that exists on the Binance Smart Chain is Pancakeswap, while Avalanche’s biggest protocol is Aave. It is MM Finance for Polygan and Marinade Finance for Solana.

Since Ethereum is the top chain in the DeFi world, Makerdao is the leading CDP i.e. collateralized debt position, while Lido is the biggest liquid staking application.