After tapping a 2022 low of $70 billion on June 19, the total value locked (TVL) in decentralized finance (defi) has increased by more than $7 billion. During the last seven days, the TVL in defi held within the Ethereum blockchain has increased by 4.47% as Ethereum’s TVL commands 62.92% dominance or $48.17 billion of today’s $77.11 billion. Meanwhile, Tron’s TVL skyrocketed this week, jumping 34.85% during the past seven days.
This Past Week Tron’s TVL Jumped by Double-Digits, Smart Contract Tokens Rise, Dex Applications Command Today’s Top Defi TVL Positions
During the last week, six out of the ten top blockchains in defi saw their TVL stats increase by double digits. Ethereum jumped 4.47%, BSC increased 7.02%, Tron spiked 34.85%, Avalanche recorded a 2.81% increase, Solana rose by 9.10%, and Cronos increased by 2.33%.
On Thursday, July 7, 2022, there’s approximately $77.11 billion locked in defi and that metric increased by 1.40% during the last 24 hours. The largest defi protocol TVL is Makerdao’s $7.54 billion or a dominance rating of around 9.78%.
Makerdao’s TVL dominance is followed by protocols such as Aave, WBTC, Curve, Uniswap, Lido, Convex Finance, Pancakeswap, Justlend, and Compound respectively. Makerdao saw a 1.56% increase this past week but the largest gainer in the top ten was Tron’s Justlend with a 90.15% spike last week.
Tron’s Justlend has $2.79 billion locked and at the time of writing, USDD supply deposits get 12.83% annual percentage yield (APY) and the borrow APY is 21.76%.
In terms of losses, the blockchain Fantom saw 6.7% leave the chain’s TVL and Arbitrum was the biggest loser out of the top ten list as Arbitrum’s TVL decreased by 11.01% this week.
Out of today’s $77.11 billion, 481 decentralized exchange (dex) applications command $24.67 billion total value locked, 155 defi lenders capture $17.55 billion, and 22 defi bridge applications currently have $11.31 billion locked.
In addition to the rise in defi’s TVL across various blockchains, the top smart contract platform tokens have jumped 5.6% higher in the last 24 hours to $272 billion. This past week, ethereum (ETH) increased by 11.3%, BNB jumped 10% higher, Cardano (ADA) is up 1.6%, solana (SOL) is up 13.3%, and Polkadot increased by 2%.
The biggest smart contract token gainers this past week were counterparty (XCP) which jumped 25.3%, komodo (KMD) increased by 25%, and ubiq (UBQ) rose by 19.3% during the last seven days.
Cross-chain…
Click Here to Read the Full Original Article at Bitcoin News…
