Despite declines, crypto asset value in DeFi protocols is 3x higher than a year ago – Marketingwithanoy

Total DeFi TVL is 16% below peak, but market players argue it’s just a bump on the road to growth

The bears maybe Do you think it’s a down market for decentralized financial (DeFi) chains, with total value locked in all decentralized financial (DeFi) chains, lower than ever, but that wasn’t the case for most of the major companies last week? protocols .

Of the top 100 chains, only 18 have lost value in the past seven days, according to DeFi Llama data. The rest seem to be moving along with a rising wave due to the demand and enthusiasm of early adopters.

Blockchain protocol Terra hit a new TVL peak on March 22 at $27.45 billion, up more than 68% from a month earlier, and Curve, a decentralized liquidity pool on Ethereum, took the No. 1 place in terms of from TVL, up 13.4% from a week ago to $20.41 billion.

Total Locked Value, or TVL, for all DeFi protocols is the sum of all crypto assets staked yielding rewards, interest and so on.

The total amount of chain retention is down about 16% from a peak in early December 2021, but market players believe the DeFi space is still in its infancy and has room to grow.

“At a high level, TVL is a good indication of the trust that users have in the various DeFi protocols, namely the blue chip protocols such as Maker, Aave, Uniswap,” said Derek Lim, head of crypto insights at crypto exchange Bybit. .

“It is also representative of the users’ recognition that DeFi protocols have significant added value. Although TVL does paint a certain picture of the DeFi landscape, it does not paint a complete picture.”

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