Friday, June 2, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Defi Platforms and Smart Contract Tokens Suffer the Most During the Crypto Market Rout – Defi Bitcoin News

by e-Naira Online News
June 11, 2022
in Crypto
Reading Time: 4 mins read
A A
0
Home Crypto
Share on FacebookShare on Twitter


Defi Platforms and Smart Contract Tokens Suffer the Most During the Crypto Market Rout

While the crypto economy has dropped lower in value against the U.S. dollar, sliding to just under $1.2 trillion, the value of decentralized finance (defi) protocols and smart contract tokens has suffered a great deal. Statistics show that the total value locked in defi has dropped 7.96% since May 18, to roughly $104 billion, and the combined value of all the smart contract tokens lost 8.2% during the last 24 hours.

Bear Market Shreds Defi — TVL Down Over 7% This Month, Smart Contracts Coins Lose Significant Value Over the Last Week

Defi metrics indicate that the world of decentralized finance has been stagnant since the fall of Terra’s UST and LUNA. 24 days ago on May 18, the total value locked (TVL) in defi was around $113 billion, and today it is 7.96% lower, hovering just above $104 billion.

30-day metrics indicate that out of the top five defi protocols in terms of TVL size, four application TVL metrics have dropped significantly. Makerdao commands the top position in defi in terms of TVL size with $8.82 billion locked. However, Makerdao’s TVL has dropped 13.23% lower during the last 30 days.

Curve’s, Aave’s, and Lido’s TVL shed between 7.21% and 19.74% during the past month as well, while Uniswap gained 1.92% during the last 30 days. The defi protocol Nord Finance was the month’s biggest loser, as its TVL dropped by more than 71% last month.

Defillama.com metrics show that Ethereum is the top chain in defi with $63.23 billion total value locked. Money held on ETH-based defi protocols represents 60.97% of all the value locked in defi today. Binance Smart Chain (BSC) is the second-largest chain with $7.78 billion TVL, and Tron is the third-largest with $5.95 billion.

Additionally, the top five smart contract protocol tokens have lost significant value during the last week, except for cardano (ADA). Ethereum (ETH) lost 12.4% in value this week, binance coin (BNB) shed ​​7.9%, solana (SOL) slipped by 9.1%, polkadot (DOT) lost 12.1%, but cardano (ADA) managed to gain 1.6% this past week.

At the time of writing, the top smart contract platform coins by market capitalization are collectively worth $327 billion. One notable smart contract token gainer last week was chainlink (LINK) as it managed to rise like ADA, but jumped 8% higher against the U.S. dollar. A lion’s share of smart contract tokens lost between 2% and more than 30% during the last seven days.

Tags in this story
7 day losses, ada, Avalanche, Cardano, Chainlink, crypto assets, Cryptocurrencies, DeFi, defi smart contract, Defi TVLs, Ethereum, LiNK, Losses, Market Caps, Monthly, Polkadot, smart contract coins, Smart Contract Tokens, Solana, tron, TVL, values, Weekly

What do you think about the bear market gripping defi and smart contract token values? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Tags: BitcoincontractCryptoDeFiMarketNewsPlatformsroutSmartsufferTokens
Previous Post

Aregbesola’s ally defects to PDP, becomes Adeleke’s campaigner

Next Post

FCMB directors splash N25.8 million on shares

Related Posts

Coinbase CEO Drops Bombshell Prediction
Crypto

Coinbase CEO Drops Bombshell Prediction

by e-Naira Online News
May 31, 2023
Car Rental Owner Arrested In Bali For Accepting Crypto Payments
Crypto

Car Rental Owner Arrested In Bali For Accepting Crypto Payments

by e-Naira Online News
May 31, 2023
Naira gains N20/$ on Binance within a week as USDT reacts to Tinubu’s economic reforms
Crypto

Naira gains N20/$ on Binance within a week as USDT reacts to Tinubu’s economic reforms

by e-Naira Online News
May 31, 2023
Bitcoin lost $1K in hours as Bybit exit Canada
Crypto

Bitcoin lost $1K in hours as Bybit exit Canada

by e-Naira Online News
May 31, 2023
How President Bola Tinubu can improve Nigeria’s crypto industry and encourage mass participation
Crypto

How President Bola Tinubu can improve Nigeria’s crypto industry and encourage mass participation

by e-Naira Online News
May 30, 2023
Next Post
FCMB directors splash N25.8 million on shares

FCMB directors splash N25.8 million on shares

President Buhari to address the nation on Sunday

President Buhari to address the nation on Sunday

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Why new Kano Governor, Abba Yusuf is seizing public assets sold by Ganduje

Why new Kano Governor, Abba Yusuf is seizing public assets sold by Ganduje

May 30, 2023
Dollar To Naira Exchange Rate Today (Wed. May 31, 2023)

Dollar To Naira Exchange Rate Today (Wed. May 31, 2023)

May 31, 2023
NNPCL chief, Kyari, claims fuel subsidy ‘vanished’ in Nigeria February

NNPCL chief, Kyari, claims fuel subsidy ‘vanished’ in Nigeria February

June 1, 2023
Capital Market Ready To Spur Investment In Infrastructure—Yuguda

Capital Market Ready To Spur Investment In Infrastructure—Yuguda

June 1, 2023
BREAKING: CBN Denies Devaluing Naira

BREAKING: CBN Denies Devaluing Naira

June 1, 2023
Tinubu meets Kalu, Abbas in Aso Rock Villa⁣⁣

Tinubu meets Kalu, Abbas in Aso Rock Villa⁣⁣

June 1, 2023
CONOIL Plc leads NGX’s positive start to June

CONOIL Plc leads NGX’s positive start to June

June 1, 2023
Stock market rises further by 0.07%

Stock market rises further by 0.07%

June 1, 2023
Nigeria’s Tax-To-GDP Ratio Is Now 10.86%

Nigeria’s Tax-To-GDP Ratio Is Now 10.86%

June 1, 2023
Monitoring Board completes revisions to its Charter and MoU with the IFRS Foundation

Monitoring Board completes revisions to its Charter and MoU with the IFRS Foundation

June 1, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.