cryptoknowmics.com
The total value locked (TVL) across decentralized finance (DeFi) has hit around $178 billion at the time of writing across blockchains like Ethereum, Binance, Terra, Polygon, Solana, and Avalanche.
Total Value Locked (TVL) in DeFi Nears $200 Billion
According to data from defilama, the total value locked (TVL) in DeFi has crossed $178.11 billion and is soon nearing the $200 billion mark. Among the DeFi-based apps, Uniswap shows dominance over almost 3%.
Aave (AAVE) has captured over $16.2 billion of the DeFi market with Curve Finance (CRV) at $14 billion. Interestingly, most of the TVL has been boosted by the application of the Ethereum blockchain. However, not only Ethereum, other blockchains too have contributed to the rising TVL across the DeFi sector.
For instance, just last weekend, Ethereum contributed to around $130 billion, the Binance Smart Chain (BSC) at around $19 billion TVL followed by Terra at $7 Billion, Polygon at $5 Billion, Solana at $4 Billion, Avalanche at $2 Billion and Klaytn $1.29 billion. Meanwhile, the launch of the Arbitrum mainnet scaling solution for Ethereum has approximately $2,343,531 TVL.
Unisex Dominates Ethereum's Top DEX
In terms of decentralized exchange (DEX), Curve has the most TVL with $13.92 billion followed by the BSC-powered Pancakeswap with $5.94 billion and Uniswap at $5.3 billion TVL.
Among 16 different dex platforms, data shows that there has been $19 billion in global swaps during the past week with $2.24 billion in the past 24 hours alone. Out of all the Dex platforms, Uniswap commands 69.2% of all the dex volume.
Weekly trading shows that Uniswap exchanged approximately $12,952,621,793 in global trades while 88% of the volume comes directly from dex applications, the rest of the volume (11.7%) are funneled through dex aggregators like 1inch, 0x API, Matcha, and Paraswap.
Meanwhile, yield-based TVL rankings show Convex Finance at the top followed by Yearn Finance, Alpaca Finance, Tranches, and Autofarm. The largest defi asset in terms of TVL is wrapped bitcoin (WBTC) with $10 billion locked, the second-largest defi asset is hbtc (HBTC) with $1.74 billion, and Mirror (MIR) with $1.01 billion.