The value of the crypto market has begun sliding again after a bullish run-up over the past seven weeks. The total value lock (TVL) for decentralized finance (defi) has fallen below the $50 billion mark to $49.8 billion. Defi’s TVL fell 2.24% over the past 24 hours. During the same timeframe, the top smart contract token economy fell 3.7% against the US dollar.
Value Locked in Smart Contract Token Economy and DefiDip
cryptocurrency pricesfell over the weekend, impacting the value of smart contract tokens and the total value locked in defi As of this writing, the smart contract token economy is worth $326.1 billion, but has fallen 3.7% in the last day. Last week,Ethereum (ETH)fell 5.6% against the greenback and Polygon (MATIC) lost 17.6% in value.
Today, Defi’s TVL today is $49.8 billion, of which 18.03% resides in the Lido Liquid Staking Protocol. The value locked in Lido today is about $8.75 billion, up 8.43% from last month.Makerdao, Curve, Aave, Convex Finance, Uniswap, Justlend, Pancakeswap, Instadapp, Compound Finance followed Lido in turn; besides Lido’s 8.43% gain, Uniswap posted the second largest 30-day gain at 6.43%.
As of February 25, 2023, Ethereum has the largest TVL of all blockchains, dominating with 58.45%. It is followed by Tron with 10.64%, Binance Smart Chain (BSC) with 10.01%, Arbitrum with 3.89%, and Polygon with 2.36%. All five of these blockchains captured 85.35% of the total value locked in decentralized finance on Saturday.Of the top 10 blockchains in TVL size, only Arbitrum increased, with TVL up 9.39% last week and 60.87% in the past month.
Of the top 10 smart contract coins, Polygon saw the largest drop this week, 17.6%. In the overall smart contract token economy, the biggest gainer this week was Stacks (STX), up 102.5%; the second biggest smart contract coin gainer was the kylin network (KYL), up 69.1% against the greenback. The two biggest losers in smart contract tokens over the past seven days were Aster (ASTR), which lost 26.2%, and Syden Network, which lost 23.9% this week.
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