thecoinrepublic.com
Terra meltdown early this may create downturn waves in the crypto market, the flagship currencies, Bitcoin and Ethereum suffered steep dips in their prices. Now, the DeFi metrics reveal that since the UST and LUNA crash the DeFi world has become stagnant.
As of May 18, the TVL, or total value locked in DeFi, was recorded to be around $113 billion and, currently, it is recorded to be just above $104 billion, experiencing a dip of 7.96%.
According to 30-day metrics, the metrics of four out of the top five defi protocols in terms of TVL size went through a significant drop. With $8.82 billion locked in TVL, Makerdao is at the top position in terms of TVL size. But in the past 30-days, the TVL of Makerdao has decreased by 13.23%.
Meanwhile, Uniswap’s TVL increased by 1.92% in the last 30 days. TVL of Curve, Aave, and Lido too experienced a drop in their TVL in the range of 7.21% -19.74%. Nord Finance suffered the most in the last month as its TVL fell by more than 71%.
Ethereum is the leading chain with $62.01 billion in total value locked, according to Defillama.com metrics. Binance is the second-largest chain with $7.65 billion TVL, while Tron with $5.85 billion is the third-largest.
In addition, last week, the top five smart contract protocol tokens, too have experienced a significant drop in their prices, excluding Cardano(ADA). Cardano (ADA) rose by 1.6% in the past week while Ethereum (ETH) suffer a drop of 12.4% in its value this week, Binance coin (BNB) slipped by 7.9%, Solana (SOL) lost 9.1%, Polkadot (DOT) dropped by 12.1%.
The top smart contract platforms, as of this writing, are collectively worth $327 billion. Chainlink (LINK), another smart contract token, too just like ADA managed to gain as it witnessed an 8% rise against the U.S. dollar. A major share of smart contract tokens lost between 2% and over 30% in the past seven days.
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