The crypto-economy has been slipping in price in the last 48 hours as the recent market price for all 13000+ crypto assets is $1.83 trillion. Whereas on the other hand, Ethereum’s distinction is 55.54% of the recent aggregate Total Value Locked, TVL, held in DeFi with $108.88 billion.
Value Locked in Defi Protocols Plummet, Ethereum Falls Decentralized Finance Dominance
The importance of defi procedures has dropped from $251 billion to $196.02 billion. Which is a drop of approximately 21.91% in USD price in the last 2 months. On 6th March 2022, the recent Total Value Locked carried in DeFi has improved by 0.11% in the last 24 hours along with Curve Finance dominating the protocol pile. Curve’s $17.88 billion Total Value Locked, TVL, indicates 9.12% of the TVL held in DeFi because it gained 0.64% in the last week. Ethereum however dominates the TVL in DeFi this Sunday, but barely by 55.59% as per the defillama.com chain statistics. In 2021, Ethereum DeFi significance was 69% for more than 5 months, it lost 14% dominance.
There is 381 decentralized exchange which is also called DEX platforms carry a collective TVL of around $64.65 billion. Coingecko.com data reveals that Uniswap v3 is the prime Dex this Sunday holding $856.6 million in 24-hour volume. Uniswap v3 stands at the top after which comes Pancakeswap with a holding of $317M, then comes Spookyswap withholding $270M after this comes to Curve $155M followed by Astropot with $155 with regards to the daily dex volumes. The top three dominating smart contract platform tokens with regards to the seven-day profits entail waves (WAVES) up 51% this week, Lisk (LSK) up 28.9% and wanchain (WAN) lunged 23.6%.
On the 6th of March, there is an immediate $23.37 billion total value locked in cross-chain bridges to Ethereum as per the data of Dune Analytics’ metrics. Nowadays there are twenty-five decentralized finance (defi) oracles and Chainlink oversees the pack. Chainlink ensures $52.23 billion in value across 141 procedures, as it has an oracle authority of approximately 54.83% on Sunday morning.