TVL Defi dips below $50 billion after hitting 2023 high

In the past 7 days, the crypto asset market has experienced a lot of volatility, and today, the total value locked (TVL) of DeFi has fallen below $50 billion.

As of now, Lido is the dominant deal in this regard, with $11.64 billion or 23.85% of TVL. Despite an 8.25% drop for the week, the 30-day stats show Lido’s TVL increased by 9.92%.

Source: Defillama

Of the 20 Defi protocols added to TVL this week, only 2 are Juststables and Venus. Meanwhile, on the downside, Aura recorded its largest TVL loss of 18.29% over the past seven days, with Aave losing 14.09%. Of the $48.78 billion locked in DeFi, over 58% of the value is on Ethereum, with $28.68 billion spread across 752 ETH-based DeFi protocols. Ethereum is followed by Tron ($5.29 billion), Binance Smart Chain ($4.67 billion), Arbitrum ($2.18 billion) and Polygon ($1.05 billion).

While the total value of DeFi fell over the weekend, the smart contract token economy grew 2% over the past 24 hours to $369 billion. However, 9 of the top 10 smart contract tokens recorded losses on the weekly frame. Tron, on the other hand, gained 1.1% over the past week.

Defi protocols that have seen significant growth over the past 7 days include Shade Protocol, Toreus, Spoon Exchange, Flux Protocol, and Dove Swap. Biggest losers this week include Atlas Aggregator, Multialt, Sohei, Arbiten and Bodh Finance.

  • SEC Warns Defi Could Be Included in Expanded Definition of ‘Stock Exchange’
  • Defi projects may be regulated by Hong Kong


according to news bitcoin

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