Decentralized finance (Defi) has been hit hard by the recent crypto market rout as the total value locked (TVL) across 118 different blockchains has slipped below the $100 billion mark to today’s $74.27 mil millones. The TVL in defi today is down more than 70% from its December 2, 2021, k'aas histórico (ATH) at $253.91 mil millones. 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 mil millones.
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), tu general, suffered a great deal.
Ka' jo'op 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 reported 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.
Bejla'e', the total value locked (TVL) in defi is $74.27 mil millones, kaambal 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 mil millones.
During the past 24 horas, 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.
Bejla'e', 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) yéetel $6.06 billion or 8.22% of the $74.27 billion locked in defi today.
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 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 mil millones and today it is hovering just above $245 mil millones.
Etereum (Eth) is the leading smart contract platform token as it commands $131.50 billion of the $245 mil millones. Eth is down 39.3% over the last seven days and most smart contract tokens have seen considerable losses during the past week.
Alud (AVAX) shed 34%, k'an binance (BNB) lost 25%, cardano (ADA) dropped by 22.5%, polkadot (CH'AAJ) 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.
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? Meentik k wojéeltik ba'ax ku tukultik yóok'ol le chun tuukulo' ti' le sección comentarios in continuación.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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. Maximumhorrors.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directa wa indirectamente, Tuméen je'el loob wa asab causada wa presuntamente causada tumen o en relación con u búukinta'al wa le Jets' óol ti' je'el contenido, goods or services mentioned in this article.
Read disclaimer
