Key Points
- Over the past 30 days, Decentralized Finance has managed to maintain the Total Value Locked in it, recording a slight dip of 0.8%
- Ethereum still dominates DeFi Total Value Locked, taking over 71% of the whole, while the TRON network follows closely with 6.4%
Ethereum has outperformed TRON and BNB Chain in DeFi Total Value Locked, taking a 71% market share, while the two follow closely with 6.4% and 5.6%, respectively. In total, the whole market had a slight dip of 0.8%.
DeFi Total Valued Locked dips 0.8% in the past 30 days
Despite unfavorable global macro-economics and the crypto market battling an extended bear market, DeFi Total Value Vocked (TVL) has managed to maintain stable levels.
According to data captured from the on-chain analytics platform, Coinrank, Ethereum was dominant, leading with 71% ($63.8B) of the whole TVL, while the TRON network followed closely with 6.4% ($5.7 B). BNB Chain came third with 5.6% ($5.06 B) of the market share.
Other notable performers were Arbitrum, with 3.49 billion dollars, and Avalanche, with 1.72 billion dollars in TVL. Polygon also followed closely with 1.4 billion dollars in TVL.
This market performance came when regulatory uncertainties continued in the US and other parts of the world less strongly than in June. In the month, the crypto space scored major boosts as Ripple partially won against the US SEC, making primary markets for crypto assets not under securities laws.
At the same time, TradFi organizations like BlackRock filed with the US SEC for spot Bitcoin ETF. As such, the pressure for investors to seek alternatives from CEXs was much lower. Keep watching Fintech Express for more market updates and other Fintech-related developments.