The smart contract token economy rose 5.6% against the US dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) rose to nearly $50 billion, a record high since the collapse of the FTX.
TVL bounces back with smart contract economy and defi
On Thursday, February 2, 2023, the top smart contract platform’s coin economyrose 5.6% in the past 24 hours to $332.86 billion. Currently, global trading volume is roughly $20.44 billion, which is paired with smart contract tokens. Among the top 10 smart contract crypto assets by market capitalization, Polygon (MATIC) led the way with a 24-hour gain, rising 12% in the last day; Aptos (APT) followed with the second largest gain, jumping 10.4% higher on Thursday; and the top 10 smart contract crypto assets by market capitalization, Polygon (MATIC), which rose 12% in the last day, rose 12% on Thursday.
Polkadot (DOT), chainlink (LINK), and solana (SOL) all posted notable gains on the final day, jumping from 6% to a high of 7.1%. Outside the top 10 smart contract coins, near protocol (NEAR), up 11.4%, and fantom (FTM), up 17.5% on Thursday, were the biggest gainers; Parsiq (PRQ) was the biggest gainer, up 27.7%, and counterparty ( XCP) was the biggest smart contract token loser, down 9.9% on Thursday.
The value locked in decentralized finance (defi) also rose, approaching the $50 billion level at about $49.48 billion. Lido Protocol is leading the defi, with today’s total value locked (TVL) representing 17.32% of Thursday’s $49 billion.
Lido’s TVL increased 5.79%, while Makerdao, the second largest defi protocol, jumped 2.97% in 24 hours; Rocket Pool experienced one of the largest defi protocols on the last day, up 7.38%; defillama.com’s statisticsshow thatthe top 20 TVLs in defi protocols have all posted double-digit gains over the past 30 days.
Ethereum remains the top decentralized finance chaintoday, with its defi protocols dominating total value locked (TVL) at 59.4%. Ethereum follows Tron, Binance Smart Chain (BSC), Arbitrum, and Polygon with TVL sizes of February 2, 2023, respectively.
Looking at changes over the past month, the top 10 blockchains in the DefiTVL also show double-digit increases in TVL. The biggest increase in the past month was Optimism’s TVL, which increased 47.41% in a 30-day span. The last time Defi’s TVL was this high was in November 2022, just before the collapse of the crypto exchange FTX.
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