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While the crypto economy is down by billions of dollars this week, the total value of key tokens (TVL) in decentralized finance protocols has dipped below the $200 billion range to $196.6 billion. TVL in defi has lost around 3.16% in the past day, and $592 billion in smart contract protocol tokens has dropped in value by 3.5% in the past 24 hours.
Defi TVL slips below $200 billion, many protocols lose billions of dollars, Dex transaction volume drops
The key value in defi has slipped below the $200 billion mark for the first time since March 16, 2022. At the time of writing, the total key value (TVL) is around $196.6 billion, down 3.16 % in the last 24 hours.
All top ten defi protocols, with the exception of Anchor, have significantly reduced 30-day TVL percentages. Curve Finance is down 11.74%, Lido has lost 13.73%, Makerdao is down 16.81% and Convex Finance has lost 10.59% since last month.
The biggest loser in the last 30 days is Aave Protocol, which has lost 21.98% since last month. Curve Finance is the top defi protocol as it dominates 9.56% with TVL currently around $18.8 billion.
Data recorded on May 1, 2022, shows that the total value of tokens currently locked in defi protocols is $196.6 billion, according to defillama.com statistics.
TVL in Ethereum-based defi protocols is still dominant today with 55.55% dominance or $109.21 billion today. Terra blockchain is the second largest in terms of TVL defi with 14.36% of the $196.6 billion. Terra’s TVL is equivalent to $28.23 billion today, and $16.48 billion is located in Anchor.
Behind Ethereum and Terra, in terms of TVL defi size, include blockchains like BSC ($12.04 billion), Avalanche ($9.38 billion) and Solana ($6.09 billion).
April volume on decentralized exchanges (dex) decreased by 21% compared to March
The top five defi protocols, in terms of TVL defi size, include Curve, Lido, Anchor, Makerdao, and Convex Finance. Terra’s Anchor Protocol saw a 30-day increase in TVL to around 4.15% last month.
Aave version three (v3) has seen a significant increase in the last 30 days despite an initial drop of 21.98%. Aave v3 has a TVL today of around $1.38 billion, up 2.711% from last month.
Statistics show that as of Sunday, May 1, 2022, there are 428 decentralized trading platforms (dex) with TVLs aggregating about 61.44 billion USD. There are also 142 defi lending protocols with a total value of 48.87 billion USD locked.
The data further shows that dex trading volume fell in April. In March, the dex trading volume was about 117 billion USD and statistics show that the dex trading volume in April was only about 92.18 billion USD.
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