Value locked in Defi lost $5.7 billion in 5 days, smart contract tokens lost 7.8% in 24 hours

In addition, the largest smart contract platform tokens in terms of market valuation are now worth $372 billion, but overall, the dozens of smart contract crypto assets have lost 7.8% of their value in the past 24 hours.

The smart contract token economy is sliding downward, with the total value locked in Defi losing 8.53% since August 14.

On August 19, 2022, major smart contract tokens such as ethereum, binance coin, cardano, solana, polkadot and avalanche have all lost value. There are dozens of smart contract tokens and collectively they are all worth $347 billion, down 7.8% based on the day’s prices.

Ethereum now accounts for 19.2 percent of the crypto economy’s $1.4 trillion value. Out of all smart contract coins worth $347 billion. ETH’s $208 billion market cap represents 59.94% of the largest smart contract tokens in terms of valuation.

At the same time, the smart contract cryptoeconomy accounts for about 32.12% of the total valuation, or $1.08 trillion. While the market performance of the major smart contract tokens has been lackluster, the value locked in defi has remained the same. Today, there is $62.08 billion of locked-in value in the many defi protocols that exist, and statistics from defillama.com detail the Makerdao protocol dominates by 13.45%.

The data shows that the TVL of Defi Makerdao protocol on August 19 is about $8.35 billion. After Makerdao TVL, the largest defi protocols today by TVL include Lido ($7.62 billion), Aave ($6.91 billion), Curve Finance ($5.98 billion), Uniswap ($5.88 billion), Convex Finance ($4.32 billion) and Justlend ($3.27 billion). In terms of blockchain with the largest TVL metric, Ethereum is still the leader with $36.31 billion or 59.04% of TVL.

Ethereum is followed by Tron, Binance Smart Chain, Polygon, Avalanche, Solana, Cronos, Arbitrum, Optimism and Fantom, respectively. Compared to Ethereum, the second-largest blockchain in terms of defi-TVL metrics, Tron accounts for $5.63 billion, or 9.15 percent of the $62.08 billion locked up in defiance protocols today.

While the tenth largest blockchain by TVL defi data, Fantom, has about $588 million or 0.96% of the TVL in defi, Justlend is the largest defi protocol on the Tron network as it dominates with 58.14% of the network’s $5.63 billion in blocked defi, or $3.27 billion in USD value. Binance Smart Chain’s largest challenged protocol is Pancakeswap, Polygon’s is MM Finance, Avalanche’s is Aave, and Solana’s is Marinade Finance.

With Ethereum being the largest defi chain, the top network The largest collateralized debt position (CDP) protocol is Makerdao, the largest liquid staking application is Lido, and Uniswap dominates the Ethereum decentralized exchange platform (dex) market. Aave is Ethereum’s largest lending app, the WBTC bridge has the most value locked in, and Convex Finance is Ethereum’s top performing protocol in terms of TVL.