About nine days ago, the total value (TVL) in decentralized finance (defi) across various blockchains was around $ 176 billion. At the time, the fiat values of Bitcoin ($ 49,937) and Ethereum ($ 3,886) were much higher. Despite the fact that the crypto economy and those coins have depreciated in value, the TVL above Defi continued to rise, increasing more than 5% to $ 185.32 billion.
Defi TVL across all chains increases by more than 5% in 9 days
Decentralized finance (defi) has attracted billions of dollars, and at the time of writing the total value locked across a variety of blockchains is around $ 185.32 billion. That’s about 5.113% more than the TVL nine days ago.
Statistics from the defillama.com dashboard show that there has been a 2.10% increase on the last day and the Defi platform Aave has the highest dominance in terms of TVL (7.40%). On the last day, Aave was up 2.69%, but 7-day metrics show Aave’s TVL is down 4.23% to $ 13.1 billion.
One could assume that the TVL held in defi would have lost value after the price of Ethereum (ETH) lost a few percent of its value. This is not the case, however, as a number of other blockchains have seen their TVL scores rise.
In our last report on the subject, around $ 130 billion was tied up in ether in defi. Today, metrics show the current Ether TVL is $ 128.1 billion. Seven-day Ether TVL changes show Ether TVL increased 0.23% and Solana’s TVL increased 100% in one week.
Solana, Terra, Avalanche, Arbitrum Weekly Defi-TVL percentages rise higher
Solana (SOL) positioned itself as the third largest defibrillator in the entire crypto economy at $ 11.54 billion on Tuesday. Terra’s TVL (LUNA) has also risen sharply, increasing 47.66% to a TVL of $ 10.38 billion today.
Both Binance Smart Chain (BSC) and Polygon (MATIC) have lost TVL percentage points as they are older blockchain protocols compared to newer concepts like SOL, LUNA, AVAX and Arbitrum. While BSC is down 1.09% in the last seven days, it is still the second largest TVL leader in terms of defi blockchains at $ 16.6 billion.
Similarly, Polygon’s TVL is the fifth largest in Defi and currently has around $ 4.71 billion in lockdown. Avalanche (AVAX) is another Defi newbie who rose to Defi in regards to TVL.
In a week, AVAX’s TVL was up 17.44% to $ 2.37 billion. Arbitrum One is up a massive 7.449% to currently 1.76 billion TVL. According to statistics, the NYAN meme token drove a lot of money into Arbitrum One’s log. Other defibrillator chains that have seen notable increases in TVL are networks such as Okexchain, Celo, and Osmosis.
What do you think of the Total Value Locked (TVL) in Defi increasing in value across different blockchains? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, defillama.com
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