Ethereum Currently Leads the TVL (Total Value Locked) in DeFi

Ethereum Currently Leads the TVL (Total Value Locked) in DeFi
  • Uniswap commanded $9,620,102,739 in swaps last week.
  • There are 270,783 bitcoin in TVL.

The total value locked (TVL) in decentralized finance (DeFi) has grown significantly to $171 billion in mid-September.

There are 270,783 bitcoin in TVL valued at over $13 billion on the Ethereum network, and $15 billion has been traded across 14 Ethereum-based decentralized exchange platforms. According to a recent DeFi weekly report, $23.8 billion has been exchanged across blockchain protocols.

While bitcoin (BTC) and ethereum (ETH) have risen in value over the past month, Solana (SOL) and avalanche (AVAX) have dominated the previous 30 days. Uniswap commanded $9,620,102,739 in swaps last week, accounting for almost 62% of the $15 billion worldwide trade volume.

Ethereum currently leads the TVL

Uniswap has a lot of volumes, while the Binance Smart Chain Dex PancakeSwap has a TVL of approximately $5.55 billion. $5.4 billion Sushiswap has more connections than the BSC network. According to Coin98 Analytics, the total weekly Dex trading volume is $23.8 billion.

Metrics indicate $171 billion in TVL spread over several blockchains. While Ethereum currently leads the TVL, other chains have seen increased activity in the past month. According to Coin98 Analytics’ latest DeFi report, there are now 68.3 million Polygon wallets worldwide.

For example, Dune Analytics’ “Bridge Away (L1 Ethereum)” data indicate that Harmony Bridges have $7.71 billion TVL on them; similarly, Rainbow Bridges have $7.71 billion TVL, and Solana Wormhole has $7.71 billion TVL. Wormhole announced on Friday that their ETH-SOL token bridge is now operational.

Coin98 Analytics found last week that the total lending value locked on Ethereum is about $44 billion. Also, out of seven different Ethereum-based bitcoin projects, TVL has 270,783 bitcoin worth almost $13 billion.

WBTC, TBTC, SBTC, IMBTC, PBTC, HBTC, and RENBTC, included in the measurement. The Wrapped Bitcoin (BTC) project and its participants utilize 76% of the 270K bitcoin ($13 billion) worth of wrapped or synthetic BTC.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.