Although the value of DeFi crypto assets has decreased, they have increased by three times in the last year – Bestgamingpro
Decentralized finance (DeFi) chains may seem to be in the midst of a bear market, but that hasn’t been the case for most of the key protocols during the last week, despite the bearish’ claims.
DeFi Llama data shows that just 18 of the top 100 chains have lost value in the last week. There seems to be a growing surge of demand and early adopter excitement for the rest of them.
Terra, an Ethereum-based decentralised exchange liquidity pool, reached a new TVL top on March 22 at $27.45 billion, up over 68% from a month earlier, while Curve, an Ethereum-based decentralised exchange liquidity pool, rose to $20.41 billion, up 13.4% from the previous week.
A crypto asset’s total value locked (TVL) is the sum of all staked crypto assets collecting rewards, interest, and so on across all DeFi protocols.
As of early December 2021, there was a roughly 16 percent decline in the quantity of money held on chains, but the DeFi market still has a long way to go.
Crypto exchange Bybit’s director of crypto analytics, Derek Lim, said that TVL is a positive sign of user confidence in popular DeFi protocols like Maker, Aave, and Uniswap.
“It’s also a reflection of the fact that DeFi protocols are recognised by users as having some real value-add.” In spite of this, TVL does provide a picture of the DeFi landscape, but it does not offer a complete image.”
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