Skip to content Skip to sidebar Skip to footer

The DeFi Sector and Smart Contract Token Economy are Struggling Amid Last Month’s FTX Fiasco

Decentralized finance (DeFi) has suffered greatly due to the FTX debacle, with the total value locked (TVL) in DeFi, losing 25.5% of its value in 37 days. The TVL in DeFi presently is expected to be $41.67 billion, with a 1.63% drop in the previous 24 hours.

With $6.26 billion in value locked and a dominance rating of 15.02% over the rest of the DeFi protocols’ TVL rankings, the DeFi protocol Makerdao commands the greatest TVL today. According to stats, Makerdao’s TVL has fallen by 8.41% in the previous month. Aave had the greatest monthly loss among the top 10, losing 15.18% of its value in 30 days.

Decentralized Finance Protocols Flounder as Value Locked in Defi Shed More Than 25% Since FTX Collapsed
Convex Finance’s TVL metrics, on the other hand, improved by 43.87% in the past month. Ethereum has the greatest value locked out of any blockchain, with $23.98 billion, or 57.55% of the total value locked out today. On December 12, the seven-day volume across all cross-chain bridges is anticipated to be $810.67 million. The total smart contract platform token economy is now $261 billion, down 2.3% in the previous 24 hours.

The smart contract platform token economy has declined 7.77% versus the US dollar in the previous 62 days, from $283 billion to today’s $261 billion. At the time of writing, the most valuable smart contract crypto asset, ethereum (ETH), is down 1.6% versus the US dollar in the last 24 hours.