When Bitcoin dipped, a lot of the other coins in the market dipped as well. With that, DeFi tokens like 1inch, Sushi, Pancake Swap, Uniswap, and Curve Dao together have lost around 15% to 23.9% during the market dip.
Total TVL for DeFi Goes from $257 Billion to $250.55 Billion
According to the story by News.Bitcoin.com, ever since mid-November, the TVL or total value locked in DeFi or decentralized finance has slid from about $257 billion down to $250.55 billion during just the last 24 hours, it suddenly lost touch over 5%.
Over the course of the last seven days, DeFi tokens, including Uniswap, Pancake Swap, 1inch, Curve Dao token, and Sushi, have lost around 15% to 23.9% in value. With that, at the time of writing, the TVL in protocols across a number of blockchains is $250.55 billion as per defillama.com metrics.
Total DeFi Value Dropped by 5.08%
The total aggregate DeFi value locked has dropped by 5.08% during the last day, with protocol Curve dominating most of the TVLs listed, having a whopping 8.07% dominance. To add, the automated market maker, or AMM Curve now commands $20.23 billion TVL, which has soared by 1.13% during the last week.
MakerDao is still considered the second-largest DeFi protocol with an $18.56 billion TVL during the time of writing. The third largest DeFi protocol TVL is considered Convex Finance with $15.14 billion.
ETH, BSC, LUNA, AVAX, SOL, and TRON
In total, Ethereum Defi TVL dominance is 65%, while the Binance Smart Chain TVL dominance remains at 6% and Terra TVL dominance at just 5%. With that TVL per blockchain is showing that Ethereum currently commands $164.36 billion of the whole $250.55 billion in Defi.
Binance Smart Chain or BSC currently commands $16.61 billion and is considered the second largest chain when it comes to the DeFi protocol TVLs. After BSC, Terra comes in third with $13.29 billion and Avalanche with $12.03 billion.
To follow, Solana currently commands $12.46 billion, and Tron controls $5.48 billion. During the time of writing, Crosschain Bridge TVL has also slid down by 26% during the last 30 days. With that, stats from Coingecko.com show that the total market cap of the largest automated market maker or AMM DeFi tokens, has gone down by 13.6% to just $17.2 billion.
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AMM Crypto Assets Drop in Value
In addition, metrics are showing that rebase tokens lost about $5.1 billion, putting them down to a low of just $6.09 billion. The largest AMM crypto asset, Uniswap's token UNI, has dropped down by 15% throughout the last seven days.
After Uniswap, Pancake Swap dropped by 16.7%, while Curve Dao dropped by 27.2%. To add, 1inch has also dropped by 27.2%, Sushi has dropped by 23.9%, and Bancor token has dropped by a significant 10.1%.
Rebase tokens as Olympus or OHM dropped by 17.1%, with forks like TIME dropping by 18.5%. To add, Klima Dao was also down by 50.6% during the last week, while AMPL lost a whopping 17.7%.
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This article is owned by Tech Times
Written by Urian B.
