DeFi’s TVL rises again
The total value locked (TVL) in decentralized finance (DeFi) has risen above the $200 billion zone after slipping below that range for most of the year.
This is good news, because in January the TVL had dropped to a low of $185.20 billion, but jumped by 13.54% to reach over $200 billion on 20th March.
The protocol dominating the sector is currently Curve Finance. It operates on eight different blockchains and is ahead of the other DeFi protocols by 8.75% and $18.41 billion locked in as TVL. MakerDao is the second largest protocol in terms of TVL with $16.2 billion. These two are followd by Lido, Anchor and Aave.
Anchor, the DeFi protocol from Terra, is the largest lending protocol by TVL, with $14.08 billion, whereas Aave has a TVL of $12.83 billion.
But what of the blockchains supporting the protocols? Well, Ethereum still rules! Ethereum has 54.92% of the TVL, which equates to $115.2 billion. Furthermore, the Ethereum blockchain supports 570 different DeFi protocols as of 20th March.
Ethereum is followed by Terra in terms of TVL. It has 12.7%, which is significantly lower than Ethereum’s share. These two leaders are followed by Binance Smart Chain ($12.03 billion), Avalanche ($11.3 billion), Solana ($7.01 billion and Fantom ($6.6 billion).
The leading smart contract platform coins have a value of $642 billion. The top 5 in this sector by market cap are, Ethereum, Binance, Terra Solana and Cardano. However, there are many more. For example, over the past 24 hours, Ethereum Classic coin has gained 21.9%. And over the past seven days, the biggest smart contract coin gainers included Edenchain, Ethereum classic, Kylin network, Gather, and Casper network.
Furthermore, over the last seven days, $529,519,374 in non-fungible token (NFT) sales were recorded across 15 different blockchains. That represents a rise of 32.10% over last week’s NFT sales volume.