Defi Platforms and Smart Contract Tokens Suffer Most During Crypto Market Crash – Bitcoin News

While the crypto economy has lost value against the US dollar, falling to just under $1.2 trillion, the value of decentralized finance (defi) protocols and smart contract tokens has suffered greatly. Statistics show that the total value locked in defi has fallen 7.96% since May 18, to approximately $104 billion, and the combined value of all smart contract tokens has lost 8.2% over the past few years. 24 hours.

Bear Market Shreds Defi: TVL Down Over 7% This Month, Smart Contract Coins Lose Significant Value Over Last Week

Defi metrics indicate that the world of decentralized finance has been stagnant since the fall of UST and LUNA from Terra. 24 days ago, on May 18, the total value locked (TVL) in defi was around $113 billion, and today it is 7.96% lower, hovering around $104 billion.

The 30-day metrics indicate that of the top five defi protocols in terms of TVL size, the TVL metrics of four applications have significantly decreased. Makerdao ranks first in defi in terms of TVL size with $8.82 billion secured. However, Makerdao’s TVL has fallen by 13.23% over the last 30 days.

Curve, Aave and Lido’s TVL also lost between 7.21% and 19.74% over the last month, while Uniswap gained 1.92% over the last 30 days. The defi protocol Nord Finance was the biggest loser for the month, as its TVL fell more than 71% last month. metrics show that Ethereum is the top chain in defi with a total value locked of $63.23 billion. Money held in ETH-based defi protocols accounts for 60.97% of all value locked in defi today. Binance Smart Chain (BSC) is the second largest chain with $7.78 billion TVL, and Tron is the third largest with $5.95 billion.

Additionally, all of 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) lost 7.9%, solana (SOL) fell 9.1%, polkadot (DOT) lost 12.1%, but cardano (ADA) managed to gain 1.6% this past week.

At the time of writing, the top smart contract platform coins by market cap have a collective value of $327 billion. A notable smart contract token gainer last week was chainlink (LINK) as it managed to rise like ADA but jumped 8% against the US dollar. Most of the smart contract tokens lost between 2% and more than 30% during the last seven days.

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7 day losses, ada, Avalanche, Cardano, Chainlink, crypto assets, Cryptocurrencies, DeFi, defi smart contract, Defi TVL, Ethereum, LiNK, Losses, Market Cap, Monthly, Polkadot, smart contract coins, Smart Contract Tokens, Solana, tron, TVL, stock, Weekly

What do you think about the bear market trapping defi and smart contract token values? Let us know what you think about this topic in the comments section below.

jamie redman

Jamie Redman is the news lead at News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for News on the disruptive protocols emerging today.

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