While the crypto economy has fallen lower against the U.S. dollar, down to just $ 1.2 trillion, the value of decentralized financial protocols (defi) and smart contract tokens has suffered greatly. Statistics show that the total value locked in defi has dropped 7.96% since May 18, to approximately $ 104 billion, and the combined value of all smart contract tokens has lost 8.2% in the last 24 hours.
Bear Shreds Market Defi – TVL Drops More Than 7% This Month, Smart Contract Coins Lose Significant Value Over The Past Week
Defi metrics show that the world of decentralized finance has been stagnant since the fall of UST and LUNA Terra. 24 days ago on May 18, the total value of locked -in (TVL) in defi was about $ 113 billion, and is now down 7.96%, just over $ 104 billion.
The 30 -day metric shows that of the top five defi protocols regarding TVL size, four TVL application metrics have dropped significantly. Makerdao ruled the top position in the defi regarding the size of TVL with $ 8.82 billion locked in. However, TVL Makerdao has been down 13.23% in the last 30 days.
Curve’s, Aave’s, and Lido’s TVL shed between 7.21% and 19.74% over the past month as well, while Uniswap gained 1.92% over the last 30 days. Nord Finance’s defi protocol was the biggest loss of the month, as TVL fell more than 71% last month.
Defillama.com metrics show that Ethereum is the top chain in defi with a total value of $ 63.23 billion locked down. Money held in the ETH -based defi protocol represents 60.97% of all values locked in the current defi. Binance Smart Chain (BSC) is the second largest chain with $ 7.78 billion TVL, and Tron is the third largest with $ 5.95 billion.
In addition, the top five smart contract protocol tokens have lost significant value over the past week, with the exception of cardano (ADA). Ethereum (ETH) lost 12.4% in value this week, binance coin (BNB) dropped 7.9%, solana (SOL) down 9.1%, polkadot (DOT) lost 12.1%, but cardano (ADA) could earn 1.6% last week.
At the time of writing, the coin is the top -tier smart contract platform with a market capitalization of a collective $ 327 billion. One of the smart contract token gainers last week was chainlink (LINK) because it could go up like that ADA, but jumped 8% higher against the U.S. dollar. The vast majority of smart contract tokens lost between 2% and more than 30% in the last seven days.
What do you think about the bear market holding the defi and the value of smart contract tokens? Let us know what you think about this subject in the comments section below.
Image Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not advise on investment, tax, legal, or accounting. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
