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DeFi TVL Jumps 12% since Mid-December with Convex and Curve dominating the opening week of New Year

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Intro

Since January 1st, 2022, the total value locked or TVL in DeFi has increased to a whopping 4% increase taking its value to $255.84 billion from $245 billion from January 1st. Ethereum blockchain continues to dominate the DeFi TVL with an almost 63% share or $160.96 billion out of the collective $255.84 billion.DeFi TVL Jumps 12% since Mid-December with Convex and Curve dominating the opening week of New Year

Stats from DeFiLlama.com shows that the lowest TVL in DeFi hit was in December 2021 to $228.13 billion. On the first day of the year 2022, TVL in DeFi hit $245 billion and since then increased to 4% to date reaching $255.84 billion. So from mid-December, DeFi TVL Jumps by 12%. This is partially due to money flowing back into DeFi after a number of DeFi tokens increased in value. 

DeFi TVL
Top 10 blockchains in terms of DeFi TVL on January 5th, 2022.

Histrory DeFi TVL

The $255.85 billion is share between numerous blockchains like Ethereum, Terra, BSC, Avalanche, Solana, Fantom, Polygon, Tron, Arbitrum, and Cronos.

Ethereum’s TVL across 383 protocols is $160.96 billion sprea across 383 protocols, followed by Terra’s $19 billion across only 14 DeFi protocols. BSC holds $16.57 billion across 263 various DeFi protocols.

Although Terra and BSC hold the second and third-largest DeFi TVLs, they are no match to the value held by Ethereum DeFi protocols. They only represent 22% of the value held by Ethereum DeFi protocols. Terra has seen a normal 2% increase in TVL during the last week, but Fantom jumped to $6 billion, and Osmosis crossed the $1 billion zone. Both Fantom and Osmosis saw an increase of almost 30% and 40% increase respectively.

Stats show that Curve leads the way by holding the largest TVL in DeFi which is split across seven different chains with a total value amounting to $24.44 billion dominance amid the $255.84 billion lock. Curve is followed by Convex ($21.27B), Makerdao ($18.28B), Aave ($14.62B), Lido ($12.48B), WBTC ($12.11B), and Instadapp ($10.88B).

Top 10 DeFi protocols in terms of total value locked on January 5th, 2022.

The total value locked in cross-chain bridges to Ethereum amounts to $24.67 billion, which represents a 1.5% change in a month. The amount of unique addresses among the cross-chain bridge TVL in 30 days is 87,855 addresses.

Polygon bridges are among the largest total value lock on Tuesday with $6.6 billion and Ronin with $6.1 billion. Following them closely is Avalanche ($5.8B), Arbitrum ($2.8B), Fantom ($1.4B), and Optimism ($538M). 

What do you think about the recent DeFi action this past week? Let us know what you think about this subject in the comments section below.

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