Following Russia’s invasion of Ukraine three days ago, crypto markets have recovered, and the comeback has pushed defi value up as well. After dipping below $200 billion, the total value locked (TVL) in defi surged back above it on February 27 to $200.94 billion. At press time, the TVL value was hovering near the $198 billion mark.
On January 28, the TVL in defi across all leading blockchains hit a low of $185.9 billion, and it’s already risen 10.61 percent since then. On Sunday, curve dominance was 8.68 percent, with $17.86 billion in total value locked, although the defi protocol’s TVL was down 5.61 percent from the previous week.
Which Defi platform gained the most traction?
With a current TVL of $112.36 billion, Ethereum has a 55.94% market share in defi today. On Sunday, Terra became the second-largest blockchain TVL in defi, with $20.17 billion, accounting for 10.04% of all TVL in defi.
Binance Smart Chain (BSC) is the third-largest blockchain TVL in defi, with $12.13 billion locked. Chainlink is the largest defi oracle today, according to Defillama.com, with 138 protocols secured and $52.66 billion locked.
With a 330% rise this week, cypherium (CPH) was the highest gainer among smart contract coins. In terms of this week’s second-largest gains, the smart contract coin is the old-school token counterparty (XCP). In the previous seven days, Counterparty has gained 54% in value against the US dollar.
Terra (LUNA) has gained 52% in the last week, making it the third-largest gainer among smart contract tokens. The total value of all smart contract platform native tokens is $611 billion at the time of writing, down 0.3% on the last day.
Today, there is $23.63 billion TVL across cross-chain bridge platforms, up 16.6% from the previous week. Moreover, 57,911 unique bridge deposit addresses have been recorded in the last month.
Avalanche, Polygon, Fantom, Ronin, and Arbitrum were the top five blockchains in terms of cross-chain bridge TVL on Sunday, February 27. Furthermore, according to statistics gathered by Coin98 Analytics from Santiment as of February 19, 2022, Solana has the greatest active developer count, followed by Ethereum, Cardano, Polkadot, Cosmos, and Terra.