Analysis

TVL in DeFi has returned to the $200 billion mark, CPH, XCP and LUNA gain the most

Total Value Locked (TVL) in DeFi managed to surpass $200 billion as the crypto market recovered from last week’s downturn. Several native assets from smart contract protocols have posted double-digit gains, with Cypherium (CPH), Counterparty (XCP), and Terra (LUNA) leading the way.

TVL in DeFi across all top blockchains hit a bottom of $185.9 billion on Jan. 28 and is up 10.61% since the day.

Curve dominance is currently 8.68% with a TVL of $17.5 billion, but is down 7.33% from last week.

Total value locked in DeFi | Source: Defillama.com

Ethereum still holds the most TVL in blockchain DeFi at $109.61 billion, or 55.94%. Followed by Terra ($19.89 billion) and BNB Chain ($11.78 billion).

Figures from Defillama.com show that Chainlink is the largest Oracle DeFi today with 138 protocols and a TVL of $52.66 billion.

In terms of smart contracts, Counterparty (CPH) was the week’s biggest gainer at 330%. Followed by Counterparty (XCP) with a plus of 54% and third place goes to Terra (LUNA) with 52%. At the time of writing, the total value of all existing native tokens of the smart contract platform is $611 billion, down 0.3% from the previous day.

In terms of the cross-chain bridge platform, there is currently $23.63 billion in TVL, up 16.6% from last week. The number of unique addresses that sent funds across the bridge over the past month was 57,911.

Source: Coin98 Analytics

TVL’s top 5 blockchains for cross-chain bridges currently include Avalanche, Polygon, Fantom, Ronin, and Arbitrum. Additionally, data collected by Santiment’s Coin98 Analytics shows that Solana has the most active developers as of February 19, 2022, followed by Ethereum, Cardano, Polkadot, Cosmos and Terra.

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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.