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Total Value Locked in Defi Nears Lifetime High, Ethereum's TVL Dominates by 54%

DeFi

news.bitcoin.com 03 April 2022 18:30, UTC
  
Reading time: ~3 m

On Sunday, April 3, the total value locked (TVL) in decentralized finance (defi) has risen to $231 billion. The TVL is nearing the all-time high (ATH) of $256 billion recorded on December 2, 2021, as it’s only 10.82% under the TVL’s ATH. Additionally, while Curve Finance continues to dominate in terms of TVL, the defi applications Lido and Anchor have moved up the ladder, and they now command the second and third-largest positions.

Value Locked in Defi Rises, Lido and Anchor TVLs Move up the Ladder

Currently, the total value locked (TVL) in defi on Sunday is roughly $231 billion and Curve Finance dominates by 9.20% with its $21.3 billion TVL. Curve is a defi application that supports nine different blockchain networks and over the last month, Curve’s TVL has increased by 19.14%.

For quite some time during the last year, Makerdao was the second-largest defi protocol in terms of TVL but today, that’s not the case anymore. As of April 3, the defi application Lido is the second-largest defi TVL with $20.43 billion.

In fact, the pace of Lido’s TVL growth increase indicates it could surpass Curve Finance in the near future. Over the last month, Lido’s TVL, which supports four different blockchains, increased by 59.78%.

Then there is Anchor, which now supports two blockchain networks (Terra and Avalanche), and has become the largest defi lending application in the space. In terms of a general defi TVL, Anchor is the third-largest today with $15.83 billion locked. Anchor has also seen a significant jump during the last 30 days, as Anchor’s TVL has spiked 37.45% since then.

According to defillama.com data, Makerdao is now the fourth-largest TVL in defi this weekend, with around $15.77 billion in value locked. The protocol, Makerdao, has recorded a 4.09% TVL increase during the last month. 

Ethereum Dominates by 54%, $21 Billion Locked in Cross-Chain Bridges, Weekly NFT Sales Spike 29% Higher Than Last Week

As far as blockchains are concerned, Ethereum still dominates the TVL in defi with 54.31% or $125.7 billion locked. Terra currently commands $30.45 billion or 13.15% of the $231 billion aggregate, according to today’s defillama.com data. Binance Smart Chain (BSC) captures 5.77% of the TVL in defi this weekend with $13.36 billion in value locked.

The fourth-largest TVL in defi is held by Avalanche, which commands $10.52 billion locked or 4.54% of the $231 billion aggregate. Lastly, the fifth-largest blockchain TVL in defi is Solana with $8.22 billion or 3.55% of the entire TVL in defi.

According to statistics from Dune Analytics, $21.84 billion is locked in cross-chain bridges to Ethereum. That’s an increase of 6.5% during the last 30 days among 45,893 unique addresses. The top five networks with the largest TVL in cross-chain bridges to Ethereum include Polygon, Avalanche, Arbitrum, Ronin, and Fantom respectively.

In terms of seven-day NFT sales metrics, cryptoslam.io shows there’s been a 29.87% increase this week with $728 million in NFT sales across 14 different blockchains.


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