The total stranded value (TVL) in decentralized finance (challenge) increased 4% in the first four days of the new year, from $ 245 billion on January 1 to $ 255.84 billion three days later . While the Curve Finance challenge protocol dominates with a TVL of $ 24.44 billion, Convex Finance is closing in on dominance with $ 21.27 billion. Meanwhile, across multiple blockchains, Ethereum dominates the TVL challenge with 62.91% or $ 160.96 billion of the total of $ 255.84 billion blocked today.
Defi TVL increases by 4% in the first 4 days of 2022
The money comes back into decentralized finance (challenge) and a number of challenge tokens increase in value. Statistics from defillama.com show that the challenged TVL hit a low of $ 228.13 billion on December 11 and since then its value has jumped 12.14%. As of the first day of 2022, the challenged TVL was $ 245 billion and it has increased 4% so far to reach $ 255.84 billion on Tuesday.
The $ 255.85 billion is distributed among many blockchains like Ethereum, Terra, Binance Smart Chain (BSC), Avalanche, Solana, Fantom, Tron, Cronos, Polygon, Arbitrum, Harmony, Waves, Ronin, Heco, Thorchain, Near , Smartbch, Elrond, and osmosis.
Ethereum’s TVL on 383 protocols is $ 160.96 billion today, followed by Terra’s $ 19 billion on just 14 challenge protocols. BSC orders $ 16.57 billion Tuesday out of 263 challenge protocols.
While Terra and BSC are the second and third challenge TVLs, they are only 22.09% of the value locked in in Ethereum challenge protocols today. Terra saw a 1.98% increase in TVL over the past week, but Fantom jumped 28.96% to $ 6 billion, and Osmosis climbed 40.43% and crossed the area of 1 billion dollars.
The curve dominates with 9.55% of the TVL in Defi, the fuse jumps by 183%, the 7 main networks of smart contracts see the weekly losses
Metrics show Curve controls the biggest challenged TVL today across seven different channels with $ 24.44 billion and 9.55% dominance among the $ 255.84 billion locked in. Curve is followed by Convex ($ 21.27 billion), Makerdao ($ 18.28 billion), Aave ($ 14.62 billion), Lido ($ 12.48 billion), WBTC ($ 12.11 billion) ($ 10.88 billion) and Instadapp ($ 10.88 billion).
Today, the TVL of inter-chain bridges to Ethereum stands at $ 24.67 billion, which represents a change of 1.5% in 30 days. The number of unique addresses among the 30-day TVL cross-chain bridge is 87,855 addresses.
Polygonal Bridges ranks as the largest TVL on Tuesday at $ 6.6 billion, and Ronin has $ 6.1 billion. Next are Avalanche ($ 5.8 billion), Arbitrum ($ 2.8 billion), Fantom ($ 1.4 billion) and Optimism ($ 538 million). The top seven market valuation smart contract blockchain platforms have all fallen in value between 3.2% and 12.5% over the past week. The seven smart contract blockchain platforms include Ethereum, Solana, Cardano, Polkadot, Terra, Avalanche, and Polygon.
Meanwhile, the eighth to tenth largest smart contract networks Chainlink (+ 5.3%), Algorand (+ 3.2%) and Near (+ 12.6%) posted seven-day gains. The smart contract network’s biggest seven-day gain this week was the fuse (FUSE) which jumped 183.6% against the US dollar.
Enigma (ENG) grew 48.8% in seven days and velas (VLX) swelled 35.7% this week. Velas Network AG has just joined forces with Italian luxury sports car maker Ferrari. The smart contract platform’s biggest loser this week was the poa network (POA) losing 49.8% in value, followed by cypherium (CPH) losing 37.8% in seven days.
What do you think of the recent challenge action last week? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, defillama.com,
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