Value Locked in Defi Slips to $74 Miljarde, Top Smart Contract Tokens Down Over 70% This Year

Value Locked in Defi Slips to $74 Miljarde, Top Smart Contract Tokens Down Over 70% This Year

Decentralized finance (defi) has been hit hard by the recent crypto market rout as the total value locked (TVL) oorkant 118 different blockchains has slipped below the $100 billion mark to today’s $74.27 miljard. The TVL in defi today is down more than 70% from its December 2, 2021, all-time high (ATH) by $253.91 miljard. Moreover, since December 2021, the top smart contract platform tokens have lost 70% in value against the U.S. dollar as well, sliding from $823 billion to today’s $245 miljard.

Defi Continues to Get Slammed by the Market Carnage, Top Smart Contract Platform Tokens Record Significant Losses

While a great number of cryptocurrencies including the leading crypto asset in terms of market valuation, bitcoin (BTC), slid significantly in value, smart contract platform tokens and decentralized finance (defi), in general, suffered a great deal.

While Terra’s LUNA and UST fallout primed the flames, issues with Celsius, Three Arrows Capital (3AC), and the lack of trust in algorithmic stablecoins have continued to keep defi fires roaring. Six days ago, Maximumhorrors.com gerapporteer on how defi and smart contract coins got slammed by significant blows and at the time, there was still $104 billion in value locked into a myriad of defi protocols.

Vandag, the total value locked (TVL) in defi is $74.27 miljard, down 70.74% since the all-time high 197 days ago on December 2, 2021. The defi protocol Makerdao dominates the pack with 10.43% in terms of the application’s TVL of $7.75 billion out of the $74.27 miljard.

The total value locked (TVL) in decentralized finance, according to defillama.com metrics on June 17, 2022.

During the past 24 ure, the entire TVL across 118 different blockchain networks dropped by 6.03%. Makerdao’s TVL shed 15.19% during the past seven days and the second-largest protocol in terms of TVL size Aave lost over 40% last week.

Vandag, ethereum commands the largest TVL size out of all the blockchains with $47.33 billion or 64.18% of the aggregate locked. The second-largest defi blockchain as far as TVL size is concerned is Binance Smart Chain (BSC) with $6.06 billion or 8.22% of the $74.27 billion locked in defi today.

The total value locked (TVL) on all chains according to defillama.com metrics on June 17, 2022.

Tron is the third-largest blockchain network in terms of TVL size with 3.99 billion or 5.42% of the aggregate locked across the 118 chains. Furthermore, the total value locked in cross-chain bridges from Ethereum has dropped more than 60% during the past month, according to Dune Analytics metrics.

The total value locked (TVL) across a myriad of cross-chain bridges from Ethereum, according to Dune Analytics data on June 17, 2022.

The tokens often leveraged in defi, smart contract platform coins have also shed more than 70% since December. At that time, the market capitalization of all the smart contract platform tokens was $823 miljard and today it is hovering just above $245 miljard.

Ethereum (ETH) is the leading smart contract platform token as it commands $131.50 billion of the $245 miljard. ETH is down 39.3% over the last seven days and most smart contract tokens have seen considerable losses during the past week.

Lawine (AVAX) shed 34%, Binance muntstuk (BNB) lost 25%, kardan (DAAR IS) dropped by 22.5%, polka kolletjies (DOT) slid by 20.7%, and solana (SOL) lost 22.3% in seven days. One of the only smart contract coins not down this past week is chia (XCH) as it is up by 1.2% against the U.S. dollar.

Merkers in hierdie storie
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What do you think about the value locked in defi slipping to fresh lows and the losses smart contract platform tokens have seen during the last year? Laat weet ons wat u oor hierdie onderwerp dink in die kommentaarafdeling hieronder.

Jamie Redman

Jamie Redman is the News Lead at Maximumhorrors.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 5,000 articles for Maximumhorrors.com News about the disruptive protocols emerging today.




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