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Total Value Locked in DeFi Chains Tops $200 Billion By CoinQuora

by Mike Robinson

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The total value of DeFi Chains exceeds $200 billion
  • The total value locked (TVL), of many decentralized finance (DeFi), chains was over $200B.
  • Ethereum’s TVL dominates with around 69%.

Total Value Locked (TVL) of several decentralized finance (DeFi) chains topped $200 billion with Ethereum’s TVL dominance of about 69%.

Many DeFi tokens saw huge gains in the first week October. They have now reached $195 billion. DeFi TVL has seen a 14% increase in value over the past two weeks. Axie Infinity, Inu and Inu lead the pack of top gainers.

Markets reports that the cryptocurrency market has seen a substantial gain in this week’s trading. DeFi Coins and smart contract tokens have been the most prominent.

Additionally, reports indicate that QTUM jumped 47%, Terra LUNA surged 377%, Solana (22%), Terra LUNA (37%), and Solana (12%) both increased. (BNB) also rose 23%.

What’s more, Axie Infinity (AXS) and Shiba Inu (SHIB) are the two mega gainers this week as they increased by 119.8% and 92.3% respectively in the last 7 days. The total value locked in DeFi protocols has risen to $195 Billion as a result. This means that it has increased by over 14% in the past year.

(ETH) is still the largest cryptocurrency by market cap and dominates TVL, with $135.05 Billion. This means that ETH controls 69.2% in total DeFi TVL.

Binance Smart Chain follows, with $17.03 trillion in TVL. It means the BSC protocol’s TVL is 12.59% of the aggregate TVL value locked on the Ethereum blockchain.

Solana is also ahead of Terra, Terra, and Polygon, each with $11.5 billion. Avalanche, Fantom, and Waves are next in line with their tracks with $4 billion each.

The $195 billion is held by 7 blockchains, which are roughly equal to 26.15% between Waves and Binance Smart Channel TVL.

Continue reading on CoinQuora

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