After hitting a 2022 low of $70 billion on June 19, total value locked (TVL) in decentralized finance (defi) has increased by over $7 billion. Over the past seven days, the TVL of defi held within the Ethereum blockchain has increased by 4.47%, with Ethereum’s TVL accounting for 62.92% of today’s $77.17 billion, or $48.17 billion advantage. Meanwhile, Tron’s TVL soared this week, rising 34.85% over the past seven days.
This past week Tron’s TVL jumped double digits, smart contract tokens rose, and Dex applications command the top Defi TVL position today
Last week, six of Defi’s top 10 blockchains saw double-digit growth in their TVL stats. Ethereum grew by 4.47%, BSC by 7.02%, Tron by 34.85%, Avalanche by 2.81%, Solana by 9.10%, and Kronos by 2.33%.
On Thursday, July 7, 2022, there was approximately $77.1 billion locked in Defi, and this metric has increased 1.40% over the past 24 hours. The largest Defi Protocol TVL is Makerdao’s $7.54 billion or about 9.78% control rating.
Makerdao’s TVL dominance is followed by protocols Aave, WBTC, Curve, Uniswap, Lido, Convex Finance, Pancakeswap, Justlend and Compound, respectively. Makerdao gained 1.56% last week, while the biggest gainer in the top 10 was Tron’s Justlend, which surged 90.15% last week.
Tron’s Justlend has $2.79 billion locked up, and at the time of writing, USDD supply deposits get an annual percentage yield (APY) of 12.83% and borrowing APY is 21.76%.
In terms of losses, blockchain Fantom was the biggest loser out of the top 10 list as 6.7% left the chain TVL and Arbitrum’s TVL fell 11.01% this week.
Of today’s $77.1 billion, 481 decentralized exchange (dex) applications locked in a total value of $24.67 billion, 155 defi lenders earned $17.55 billion, and 22 defi bridge applications now locked in $11.31 billion.
In addition to the rise in Defi TVLs on various blockchains, the top smart contract platform token jumped 5.6% higher to $272 billion in the past 24 hours. Over the past week, Ethereum (ETH) rose 11.3%,. BNBjumped 10% higher, Cardano (ADA) was up 1.6%, Solana (SOL) was up 13.3%, and Polkadot was up 2%.
The smart contract tokens that gained the most over the past week were Counterparty (XCP), up 25.3%; Komodo (KMD), up 25%; and Ubic (UBQ), up 19.3% over the past seven days.
Combined cross-chain bridge TVLs are down 60.4% over the past 30 days, with Polygon’s bridge the largest at $3.55 billion TVL Polygon’s bridge TVLs include Arbitrum, the followed by Avalanche, Optimism, and Near Rainbow.
The worst TVL losses in decentralized finance this week were attributed to protocols such as Piggbank DAO, Metavault DAO, Houses of Rome, Jade Protocol and Risk Harbor. The largest TVL protocol increases in defi over the past 7 days were recorded by Hermes Defi, Maple, Omni Protocol, OGX, and Strategyx Finance.
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