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TVL in DeFi cross-chain bridges hits $ 22.48 billion, up 48% in 30 days

The Total Value Locked (TVL) in DeFi logs has continued to rise this year and has reached new heights.

Data from Defillama.com shows TVL on DeFi is currently $ 243.77 billion, Curve is $ 18.91 billion, or 7.77%. This DeFi protocol supports seven different blockchains, which means that users can access the cross-chain bridge technology to take advantage of a decentralized exchange (DEX).

Total locked in DeFi logs | Source: Defillama.com

Ethereum still dominates TVL in DeFi at $ 164.75 billion. While it holds a huge market share in the DeFi pie, other blockchains like Avalanche, Fantom, Polygon, and Tron have seen significant gains over the past week.

Avalanche’s TVL in DeFi is up 10.44% over the past seven days, while Tron’s is up 18.76%.

TVL in cross-chain bridges rose 48% this month

Fantom’s TVL saw a significant increase over the past week, earning 31.21% more. Meanwhile, Solana and Terra posted much smaller gains over the past week, gaining 0.44% and 0.79%, respectively.

Arbitrum sees TVL up 24.58% and Polygon (MATIC) down 4.41% this week. TVL on Binance Smart Chain (BSC) is down again this week, losing 6.15%, but is still the second largest TVL on DeFi after Ethereum.

TVL of the cross-chain bridge to Ethereum on October 29, 2021 | Source: Dune Analytics.

This week, the TVL of cross-chain bridges is up 48.8% compared to the previous month, and now hits $ 22.48 billion. Statistics from Dune Analytics show the Ronin Bridge grew 2% to $ 5.3 billion in the past week.

Dune Analytics’ cross-chain bridge dashboard called “Bridge Away (L1 Ethereum)” shows 16 different bridges from chains such as Avalanche, Arbitrum, BSC Anyswap, Boba Network, Fantom Anyswap, Harmony Bridges, etc.

The assets that are most active in cross-chain bridges include tokens such as WETH, ETH, AXS, USDC, WBTC, MATIC, USDT and DAI, respectively. For WETH / ETH, the TVL in cross-chain bridges is currently over 7 million US dollars.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.