Decentralized Finance, DeFi Current Situation Is Still Poor
In terms of the total value locked during the past six months, defi action has significantly decreased. The TVL in defi is around $51.72 billion on Saturday, October 22, 2022, with Makerdao's CDP protocol controlling 14.76% of the total TVL with $7.64 billion on Saturday morning (ET).
The total value locked (TVL) in decentralised finance (defi) has
Been range-bound between $50 billion and $65 billion during the past 125 days, or nearly four months.
The TVL in defi has lost a lot of value over the previous six months, falling from $161 billion on April 1 to $51.72 billion today, a decrease of more than 67%.
The Defi Market's Activity Has Been Vapid for 4 Months as TVL Dropped More Than 67% in 6 Months.
In terms of the total value locked during the past six months, defi action has significantly decreased. The TVL in defi is around $51.72 billion on Saturday, October 22, 2022, with Makerdao's CDP protocol controlling 14.76% of the total TVL with $7.64 billion on Saturday morning (ET).
The top five largest TVLs today are Makerdao, Lido, Curve, aave , and Uniswap. With a TVL of about $6 billion, the liquid staking protocol Lido stands slightly below Makerdao. Ethereum accounts for $5,839,046,587 of Lido's TVL (ETH).
As the TVL increased by 4.82% last month, Makerdao saw a 30-day boost in value. In the past 30 days, Sushiswap has increased noticeably (41.27%), and the yield protocol Aura has increased by 38.70%. With nearly 57% of the entire $51.72 billion currently locked in defi, Ethereum is the most prominent blockchain in terms of defi TVL. The second-largest TVL by blockchain, Binance Smart Chain (BSC), has $5.32 billion or 10.33% of the total value locked, compared to ETH's $29.56 billion.
In terms of TVL by blockchain, except ETH and BSC, Tron, Avalanche, Polygon, and Arbitrum lag behind. According to statistics, there are currently 607 decentralised exchange (dex) protocols with a locked value of $21.57 billion.
On Saturday, there are 189 loan defi apps controlling $13.96 billion and 57 CDP protocols controlling $10.37 billion. Additionally, there are 45 liquid staking applications in total, with a current value of $7.91 billion. Additionally, there has been a 22% decrease in value locked in cross-chain bridge platforms over the previous 30 days. Decentralized cross-chain bridge platforms have 7,80 billion locked with 13,178 different depositor addresses.
With around $3.37 billion TVL, Polygon is in first place among bridge developers, but the TVL has decreased 6% over the past month. Around $1.44 billion, or 2% less than the previous month, is the current market cap of Arbitrum.
Optimism, Fantom, and the Near Rainbow bridge come after the Polygon and Arbitrum bridges. The market capitalization of tokens used in smart contract platforms is currently $281 billion, up 1.4% in the previous day.
According to market capitalization, the top five tokens for smart contract platforms are ethereum (ETH), bnb (BNB), cardano (ADA), solana (SOL), and polkadot (DOT). Over the past week, losses for ADA, SOL, and DOT have ranged from 3.4% to 6.8%. Both ETH and BNB have gained between 0.3% and 0.8% over the past week, remaining in the green.
