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The total value locked (TVL), in decentralized finance protocols, has fallen below $200 billion to $196.02 Billion on Sunday morning (EST). Ethereum holds 55.54% of total TVL in defi, $108.88 billion.
Ethereum loses decentralized finance dominance as value locked in Defi protocols sinks
Definitive protocols' value has fallen from $251 billion at December 2021 to the current $196.02 million. This represents a 21.91% drop in USD value over the past two months.
Curve Finance dominated the protocol pack, increasing the TVL in defi by 0.11% on Sunday, March 6. 2022. Curve's $17.88billion TVL is 9.12% of all TVL in defi. It increased by 0.64% over the past week. Curve is closely followed by Makerdao (£15.15B), Lido (£12.79B), Convex Finance (12.58B).
According to chain stats, Ethereum is still the TVL in Defi, but only 55.59%. ETH defi dominance stood at 69% on October 5, 2021. It has lost 14% dominance over the past five months. Terra is the 2nd-largest defi TVL today with $22.67 Billion locked and more than half of it locked into the Anchor protocol.
In terms of TVL in defi protocols held on Sunday, Terra is closely followed by Avalanche ($10.74B), BSC ($11.71B), and Fantom ($7.69B). This weekend, Solana's defi TVL is $6.83 trillion. That's a drop of more than 5% in the last seven days.
As of press time, 381 decentralized exchange platforms (dex) have a combined TVL around $64.65 million. Coingecko.com data indicates that Uniswap v3 was the top dex this weekend, with $856.6 Million in 24-hour volume.
Uniswap v3 follows Pancakeswap (317M), Spookyswap (270M), Curve (155M) and Astroport (155M) in terms of daily data volumes. Waves (WAVES), up 51%, Spookyswap ($270M), Curve ($155M) and Astroport ($155M) are the most popular smart contract platform tokens.
According to Dune Analytics' metrics, there was $23.37 trillion in total value across cross-chain bridges to Ethereum as of March 6. Avalanche and Polygon are the top cross-chain bridge TVLs. Fantom, Ronin and Ronin are also among them.
Chainlink is the leader of 25 decentralized finance oracles. Chainlink has an oracle dominance rate of 54.83% on Sunday morning, which means it secures $52.23 trillion in value across 141 protocols.
