Cryptocurrency prices have recovered to some extent over the past few days, but the total value (TVL) locked across the decentralized finance (defi) ecosystem has also improved. Since June 20, decentralized TVL has increased by 7.19%, and decentralized Makerdao TVL has accounted for 10.37% this weekend.
Defi TVL improved, cross-chain bridge TVL slip, $ 100 million stolen from Harmony’s Horizon Bridge
Decentralized finance has been hit by the fallout of the tera blockchain, recent Fed rate hikes, and the recent cryptocurrency bath following alleged financial problems surrounding Celsius and Three Arrows Capital (3AC). rice field. On June 17, Bitcoin.com News reported that the bear market had a negative impact on decentralized finance, and three days later decentralized finance’s TVL fell to a low of $ 71.98 billion.
Since then, TVL has risen from $ 71.98 billion to $ 77.16 billion today, resulting in a 7.19% increase. The Makerdao protocol has the largest TVL of all decentralized projects, with $ 8 billion in TVL accounting for 10.37% this weekend.
Macerdao’s TVL has increased by 6.89% over the last 7 days. The second largest decentralized protocol in terms of TVL size was Aave at $ 6.59 billion, with Aave recording a 27.13% increase during the week. As far as blockchain TVL distribution is concerned, Ethereum earns $ 49 billion in TVL at 63.98%.
Binance Smart Chain (BSC) is the second largest chain in TVL, with 7.85% or $ 6.01 billion locked. After the market capitalization of top smart contract tokens reached $ 245 billion last week, the market capitalization has risen 1.4% in the last 24 hours to $ 280 billion.
Ethereum (ETH) surged 12.7% against the US dollar and BSC surged 10.5% last week. Solana (SOL) swelled by 37.1%, Avalanche (AVAX) recorded an increase of 32.2%, and Polygon (MATIC) increased by more than 50% in 7 days.
The biggest winners on the top smart contract token list last week were ronin (RON), zilliqa (ZIL) and polygon (MATIC), respectively. Despite some increases in smart contract tokens this week and improvements in TVL, TVL across the cross-chain bridge sector has declined by 60.4% over the last 30 days.
At the time of this writing, the value of a cross-chain bridge TVL across 16 different protocols is $ 11.77 billion. Polygon leads the largest cross-chain bridge TVL, which was locked on June 25th at $ 3.6 billion.
On the other hand, the Decentralized ecosystem has had some problems in the last 7 days, as Convex Finance does. Ask the user Confirm approval while assessing “potential front-end issues”.In addition, Harmony’s cross-chain bridge Lost $ 100 million In the theft that happened on June 23.
“Note that this does not affect untrustworthy people [bitcoin] Bridge; The funds and assets stored in the decentralized vault are safe at this time, “the Harmony team wrote about the situation. “We also notified the exchange and shut down the Horizon Bridge to prevent further trading. The entire team is participating as the investigation continues.”
What do you think about the fixed value of decentralized finance improvements and the increase in smart contract tokens last week? Let us know what you think in the comments section below.
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