Decentralized Finance Protocols Flounder as Value Locked in Defi Shed More Than 25% Since FTX Collapsed – Defi Bitcoin News

On December 12, 2022, the total value locked (TVL) in decentralized finance (defi) has been range bound after falling 25.5% from $55.94 billion on Nov. 5, to today’s $41.67 billion. Moreover, during the past 12 months, the TVL in defi dropped 82.56% from roughly $239 billion in Dec. 2021, to today’s aggregate.

Smart Contract Token Economy and Defi Sector Struggle Following Last Month’s FTX Fiasco

Decentralized finance (defi) has suffered a great deal from the FTX fiasco as the total value locked (TVL) in defi has shed 25.5% in value in 37 days. At the time of writing, the TVL in defi today is an estimated $41.67 billion and the TVL has declined 1.63% in the past 24 hours.

How To Get Free Crypto  

The defi protocol Makerdao commands the largest TVL today with $6.26 billion in value locked, and a dominance rating of 15.02% against the rest of the defi protocols’ TVL standings. metrics indicate that during the course of the last month, Makerdao’s TVL shrunk by 8.41%.

The TVL in defi today on Dec. 12, 2022, is $41.67 billion, and the value locked 37 days ago was around $55.94 billion or 25.5% higher.

Following Makerdao, the top defi protocols in terms of TVL size include Lido, Aave, Curve, Uniswap, Convex Finance, Justlend, Pancakeswap, Compound Finance, and Instadapp respectively. Out of the entire top ten, Aave saw the largest monthly loss after it shed 15.18% in value in 30 days.

On the other hand, Convex Finance’s TVL metrics increased by 43.87% during the last month. Ethereum holds the most value locked out of all the blockchains with $23.98 billion or 57.55% of the aggregate locked in defi today.

Coinbase Banner  

Binance Smart Chain (BSC) has the second-largest TVL on Dec. 12, with an estimated $4.99 billion or 12.04% of the total. In terms of TVL size, Ethereum and BSC are followed by the blockchain networks Tron, Arbitrum, Polygon, Avalanche, Optimism, Fantom, Cronos, and Solana respectively.

The total seven-day volume, across all the cross-chain bridges on Dec. 12, is an estimated $810.67 million. The entire smart contract platform token economy today is $261 billion and it’s down 2.3% during the last 24 hours.

During the last 62 days or since Oct. 11, 2022, the smart contract platform token economy dropped 7.77% against the U.S. dollar from $283 billion to today’s $261 billion. At the time of writing, the largest smart contract crypto asset, ethereum (ETH), is down 1.6% against the greenback during the past 24 hours.

Tags in this story
Aave, Assets, Avalanche, Binance Smart Chain, Compound Finance, convex finance, Cross-chain Bridges, crypto assets, Curve, decentralized finance, DeFi, Defi protocols, Defi TVL, Ethereum, Fantom, Instadapp, Justlend, Lido, makerdao, Pancakeswap, Smart Contract Tokens, Smart Contracts, Solana, token economy, total value locked, tron, uniswap

What do you think about the current state of decentralized finance this week? Let us know what you think about this subject in the comments section below.

FreeBitcoin Banner  
Jamie Redman

Jamie Redman is the News Lead at 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 6,000 articles for News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Read disclaimer

Go to Source
Author: Jamie Redman

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.