Defi platforms and smart contract tokens are highly vulnerable during the crypto market route.
Although the crypto economy has depreciated against the US dollar to less than $ 1.2 trillion, the value of decentralized finance (defi) protocols and smart contract tokens have been severely affected. Statistics show that the total value locked in defi since May 18 has fallen by 7.96% to about $ 104 billion, and the combined value of all smart contract tokens has lost 8.2% in the last 24 hours.
Bear Market Shreds Defi – TVL fell more than 7% this month, with smart contract currencies losing significant value last week
Defy measurements to indicate that the decentralized financial world has stagnated since the fall of Terra’s USD and Luna. 24 days ago on May 18, the total value of Defendant Locked (TVL) was about $ 113 billion, today it is 7.96% lower at over $ 104 billion.
Of the first five defi protocols based on TVL size, 30-day measurements indicate that four utility TVL measurements are significantly reduced. McCarthy tops the list with $ 8.82 billion in locked TVL volume. However, McDermott’s TVL has dropped 13.23% in the last 30 days.
While UNISWAP has increased by 1.92% in the last 30 days, the TVL of Curves, Aves, and Lido has fallen between 7.21% and 19.74% in the last month. Defi protocol Nord Finance suffered its biggest loss of the month as its TVL fell more than 71% last month.
Defillama.com measurements show that Ethereum is the primary chain in the $ 63.23 billion total value-locked TFI. Money held in ETH-based Defi protocols today is 60.97% of all value locked in defi. Binance Smart Chain (BSC) is the second-largest chain with $ 7.78 billion TVL, and Tron is the third largest chain with $ 5.95 billion.
In addition, except Cardano, the top five smart contract protocol tokens have lost significant value in the past week (ADA) Ethereum (ETH) lost 12.4% in value this week, Accounting Coin (BNP) Shed 7.9%, Solana (SOL) 9.1%, Polkadot (DOT) lost 12.1%, but Cardano (ADA) Was able to get 1.6% last week.
At the time of writing, the best smart contract platform by market capitalization is worth a total of $ 327 billion. Significant Smart Contract Token Recipient Last Week is LINK ADA, But rose 8% against the US dollar. Has lost 2% to 30% of smart contract tokens in the last seven days.
What do you think about bear market captivity toffee and smart contract token values? Let us know what you think about this topic in the comments section below.
Jamie Redman is a news technology news correspondent at Bitcoin.com and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is interested in Bitcoin, open-source code, and distributed applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News.
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