A bearish crypto market has a chain impact on decentralized finance and its number of TVLs. Major chains lost value last week, but some small ecosystems showed a significant increase. In the world of crypto and blockchain, learning is always exciting.
Phantom, harmony, and osmotic growth
Looking beyond DeFi Total Value Locked’s top ecosystem and blockchain reveals interesting trends. When the overall crypto price becomes bearish, users appear to flock to a smaller ecosystem. For example, recent price increases for Fantom (FTM) are consistent with a nearly 16% increase in network TVL in a week.
This is noteworthy as Fantom recently lost a significant amount of Total Value Locked. Even this week, Fantom’s three projects (Tomb Finance, Grim Finance and Draco Force) lost 100% TVL, while the other projects earned more than 45% Total Value Locked – Hundred Finance and Luxor Money. , Tetu, TopShelf, Coffin Finance, etc.
Harmony was also a powerful week for decentralized finance. DeFi Kingdoms remains a top TVL project, but Multichain has received a 16.26% increase in liquidity. Other projects to increase ownership include Tranquil Finance, Hundred Finance, Synapse and Farmers Only. Harmony currently has 36 DeFi projects, which is quite a few.
Osmosis also had a great week when the locked DeFi Total Value was considered. Thanks to the 32.18% increase in TVL, this project is becoming one of the top candidates. Osmosis is locked today with a total value of over $ 1.13 billion, confirming the strong growth of the project. In late July 2021, Osmosis showed a TVl of less than $ 97,000.
Ethereum loses less than you think
Ether’s prices have been hit hard these days, but the ecosystem’s Total Value Locked hasn’t dropped that much. The 4.1% setback is pretty steep, worth over $ 148 billion, but there seems to be little reason for overall concern. Ethereum’s TVL dip is lower than Terra (-9.97%), Binance Smart Chain (-5.53%), Avalanche (-6.84%), and Solana (-11.49%).
It’s exciting to see what these rankings will look like in the coming months. The crypto market rebound seems almost inevitable, although no one knows exactly when it will happen. However, the DeFi ecosystem is still resilient. It’s only a matter of time before Locked’s Total Value exceeds $ 300 billion.
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