The total value locked (TVL) within decentralized finance (defi) protocols remained consistent on June 18, 2023, barely exceeding $42 billion. Lido Finance leads the pack with its TVL of $12.69 billion, representing nearly 30% of the cumulative value. In the past month, all top ten defi protocols, except Lido, have experienced losses ranging from 0.31% to 16.88%.
Defi’s $42 Billion TVL with Ethereum-based Protocols Controlling 58%
Currently, the overall TVL in defi remains above $42 billion, out of which $24.87 billion is associated with Ethereum-based defi protocols. This implies Ethereum’s TVL supremacy exceeds 58% in contrast to the 195 defi-supporting blockchain networks as accounted by defillama.com. Among these protocols, Lido’s liquid staking platform captures the largest share of $12.69 billion. In spite of last month’s losses across nine out of the top ten defi protocols, Lido has enjoyed a 6.75% increase.
Data from defillama.com on Defi’s TVL as of June 18, 2023.
The largest decline within the top ten defi protocols in the last 30 days was Makerdao, experiencing a 16.88% loss. In contrast, Blur showed positive momentum with a rise of 11.48% over the same period, closely followed by Conic Finance which surged 23.04% higher. Ethereum maintains its lead with $24.87 billion, equivalent to a 58% share. Tron is the second-largest chain based on TVL size, with 12.65% or $5.37 billion as of June 18. Tron is succeeded by Binance Smart Chain (BSC), Arbitrum, and Polygon, in order.
Additionally, liquid staking derivatives based on Ethereum (ETH) contribute to $16.969 billion of today’s $42 billion defi TVL. As of 10:00 a.m. Eastern Time on June 18, about 9,745,831 ETH has been locked into 21 distinct liquid staking platforms. The past week has seen lackluster activity due to losses in the top smart contract token economy. However, the market valuation rose to $315 billion today, indicating a slight increase of 1.4% in the top smart contract token economy.
What are your insights on the defi TVL trend over the past week? We welcome your thoughts and opinions on this topic in the comments section below.
Frequently Asked Questions (FAQs) about defi TVL
What is TVL in the context of defi?
TVL stands for Total Value Locked and refers to the total amount of assets (usually cryptocurrency) that are currently locked or held within decentralized finance (defi) protocols.
Which protocol dominates the defi TVL?
Lido Finance is currently leading in terms of defi TVL with $12.69 billion locked, representing approximately 29.76% of the total value locked in defi.
What percentage of defi TVL is tied to Ethereum-based protocols?
Over 58% of the total defi TVL is tied to Ethereum-based protocols. As of now, Ethereum dominates with $24.87 billion locked, making it the most prominent blockchain network in the defi space.
How have the top ten defi protocols performed in the past month?
With the exception of Lido Finance, the top ten defi protocols have experienced losses ranging from 0.31% to 16.88% during the last month. Makerdao suffered the largest decline of 16.88%, while Blur saw a positive rise of 11.48%.
What are the other notable blockchain networks in terms of defi TVL?
Following Ethereum, the second-largest blockchain network in terms of defi TVL is Tron, accounting for 12.65% or $5.37 billion of the total locked value. Binance Smart Chain (BSC), Arbitrum, and Polygon are also notable blockchain networks in the defi space.
How much value is locked in Ethereum-based liquid staking derivatives?
Approximately $16.969 billion of the $42 billion locked in defi is represented by Ethereum-based liquid staking derivatives. Around 9,745,831 ETH is locked across 21 different liquid staking platforms.
How has the defi market performed in the past week?
The past week has seen lackluster activity in the defi market, with the top smart contract token economy taking losses. However, there has been a 1.4% increase resulting in a $315 billion market valuation.