Value Locked in Defi at Its Lowest Point Since March 2021, Smart Contract Tokens Shed $22 Billion in 36 Days – Bitcoin News

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Since Oct. 11, 2022, the SmartContract token economy has lost $22 billion as it slid from $283 billion to today’s $261 billion. DeFi TVL is at its lowest point since March 2021.

Two tokens that saw significant losses similar to SOL’s include phantasma down 35.6% and velas down 29.6% this week. Two smart contract tokens that gained this week include qanplatform up 368.5% and secret , which gained 29% against the U.S. dollar.

The total value locked in defi is at the lowest point since March 2021. At the time of writing on Nov. 16, 2022, the TVL in defi is $43.24 billion. Ethereum’s defi dominance represents 57.63% of the $43.24 billion aggregate with $24.92 billion total value locked on the blockchain’s defi protocols. The second-largest blockchain in terms of defi TVL is the Binance Smart Chain with $4.83 billion in value locked. Tron is in third place with 10.11% of the aggregate $43.24 billion or roughly $4.33 billion in value locked on Nov. 16.

The defi application Lido commands $5.92 billion in value locked on Wednesday. Makerdao’s TVL shed 13.87% during the past 30 days, while Lido shed 0.90% this past month. Weekly stats show Makerdao lost 4.70% this past week and Lido lost 2.54% during the last seven days.

 

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