TVL Defi breaks $50 billion mark for first time since FTX crash

Yesterday, the entire cryptocurrency market rose by more than 5% against the US dollar, and the market value of the leading smart contract token rose by 7%. During the same period, Ethereum rose 6.5%, BNB rose 4.2%, Cardano rose 2.4%, Polygon rose 8.3%, Solana rose 3.9%, Polkadot rose 3.6%, and Avalanche rose 5. 7%.

The above-mentioned price increases pushed the total value locked (TVL) in the DeFi field to exceed the $50 billion mark for the first time since November 8, 2022. As of February 16, 2023, statistics show that TVL is approximately US$51.1 billion, of which US$878 million is held by Lido.

Lido is the largest TVL holding liquidity staking agreement, accounting for 17.18% of the total. It is followed by Makerdao, Curve, Aave and Convex Finance.

Source: defillama

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This week, more than 60% of the total value locked in DeFi, or $30.98 billion, was pegged to Ethereum. In terms of TVL, Tron is the second largest blockchain with 10.39%. BNB Chain used to be the second largest chain in terms of TVL scale, and now ranks third with 9.57%. After Ethereum, Tron and BSC, TVL’s next major blockchains are Arbitrum, Polygon, Avalanche, Optimism, Fantom and Cronos.

The largest protocol bridges on TVL include WBTC, Multichain, Justcrypto, and Portal. As of February 16, 2023, top DEX platforms include Uniswap, Curve, Sunswap, Pancakeswap, Balancer, Trader Joe, Spookyswap, Velodrome, and Orca. DEX platforms processed $3.7 billion in global trading volume in the past 24 hours. The largest lenders include Aave, Venus, Justlend, Radiant, Geist Finance, Solend, Tectonic and Pando Rings.

  • Community divided over dYdX’s proposal to update Defi funding scheme
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according to news bitcoin

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