Value Locked in Defi Drops to Lows Not Seen Since March, Ethereum Dominates TVL by 57%

The state of decentralized finance (defi) in terms of total value locked (TVL) has been tumultuous, to say the least, and currently the TVL in defi today is approximately $54.95 billion. The TVL has not been this low in over five months since March 29, and the most dominant defi protocol today is Makerdao, leading the pack by 13.27%

Value Locked in Defi Slips Under $55 Billion

• At the time of writing, the top smart contract platform coins by market capitalization are up against the U.S. dollar in value, roughly by 0.6%, and the smart contract token economy is valued at $296 billion.
• While smart contract tokens improved during the last 24 hours, the state of defi has been at the lowest value since March 29, 2022.
• Currently, the total value locked in defi is around $54.95 billion and the value locked in Ethereum is around $31.61 billion, or just over 57% of the aggregate value locked today.
• Ethereum is followed by Tron’s $5.41 billion and the $5.38 billion held by Binance Smart Chain (BSC) defi protocols.

TVL according to defillama.com stats on September 24, 2022.

• While Ethereum’s defi has dominated during the past 30 days, the TVL has dropped 14.09% while Tron lost 9.72% last month.
• BSC shed 2.54% in 30 days, but the layer two (L2) defi protocol Arbitrum managed to climb 1.52% last month.
• Out of the $54.95 billion locked today, Makerdao is the dominant protocol with 13.27% or $7.29 billion locked.
• Makerdao has lost 6.46% during the last 30 days and the second largest defi protocol Lido Finance shed 10.38%. Lido has $5.97 billion locked on Saturday, September 24, 2022.
• Makerdao and Lido are followed by Curve, Aave, Uniswap, Convex Finance, Just Lend, Pancakeswap, and Compound Finance, respectively.
• While most of the top smart contract tokens by market capitalization have had a lackluster week, a few smart contract coins saw double-digit gains.
• In seven days neblio (NEBL) gained 35.2%, algorand (ALGO) jumped 27.5%, and counterparty (XCP) rose by 21.2% last week.
• Three top smart contract tokens lost double digits last week. Ergo (ERG) lost 35%, proton (XPR) dropped by 21%, and terra luna classic (LUNC) slipped by 19.3% against the U.S. dollar.
• Out of the top five smart contract tokens today, ethereum (ETH) shed 7% this week, BNB is up 2.4% in seven days, cardano (ADA) lost 1.7%, solana (SOL) is up 6.8%, and polkadot (DOT) lost 6.2% against the U.S. dollar.