Complete Worth Locked in Cross-Chain Defi Bridges Exceeds $22 Billion, Leaping 48% in 30 Days – Defi Bitcoin Information
As of October 29, the Total Value Locked (TVL) in decentralized financial protocols (defi) is around $ 243 billion, with Curve taking 7.76% dominance. With Ethereum now having the greatest dominance of TVL in Defi, a number of alternative blockchains are seeing a significant increase every week. Additionally, the TVL in cross-chain bridge technology has hit $ 22.48 billion, up 48.8% from last month.
The total locked defi value is over $ 240 billion – Avalanche, Fantom, Polygon, Tron, Arbiter TVLs in defi-increase
The total value of decentralized finance apps has continued to grow this year and has reached new heights. Data from the defillama.com dashboard shows the TVL on Friday was $ 243 billion, with Curves 18.91% having a dominance rating of 7.76%. The Defi protocol Curve supports seven different blockchains, which means that users can access the cross-chain bridge technology to take advantage of the decentralized exchange (dex).
Statistics show Ethereum (ETH) valued at 164.75 billion.Although Ethereum is a big part of the defi cake, blockchains like Avalanche, Fantom, Polygon and Tron have seen a sharp surge in TVLs over the past week. Avalanche’s TVL in Defi rose 10.44% over the past seven days, while Tron’s TVL in Defi rose 18.76%.
Cross-chain bridge TVLs are up 48% this month – Locked in over $ 22 billion total value
Fantom’s TVL saw a significant increase over the past week, recording 31.21% more TVL. Meanwhile, Solana and Terra saw much smaller gains over the past week, as Solana took 0.44% and Terra only rose 0.79%. Arbitrum saw TVL gain around 24.58% and Polygon (MATIC) rose 4.41% this week. The TVL on the Binance Smart Chain (BSC) is down this week and is down 6.15% but is still the second largest defibrillator TVL after Ethereum.
Cross-chain bridges to Ethereum on October 29, 2021, according to statistics from Dune Analytics.
This week, the TVL in cross-chain bridges is up 48.8% last month, and on Friday, the TVL of the cross-chain bridge is $ 22.48 billion. Statistics from Dune Analytics show the Ronin Bridge rose 2% to $ 5.3 billion over the past week. Dune Analytics’ cross-chain bridge dashboard called “Bridge Away (L1 Ethereum)” shows 16 different bridges from chains such as Avalanche, Arbitrum, BSC Anyswap, Boba Network, Fantom Anyswap, Harmony Bridges and more.
The assets that have the most activity in cross-chain bridges include tokens such as WETH, ETH, AXS, USDC, WBTC, MATIC, USDT and DAI. In terms of WETH / ETH, the TVL in cross-chain bridges is around $ 7,062,594,503 on Friday morning.
What do you think of the increase in funding in cross-chain bridging technology over the past month? Let us know what you think on this matter in the comments below.
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