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DeFi TVL Sees Slight Decrease, But Ethereum Still Dominates

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According to the report, according to the data of defullama, the current total net lock-up volume (TVL) of DeFi reached US $48.53 billion, a decrease of 2.18% …

DeFi TVL Sees Slight Decrease, But Ethereum Still Dominates

According to the report, according to the data of defullama, the current total net lock-up volume (TVL) of DeFi reached US $48.53 billion, a decrease of 2.18% in 24 hours. Among them, Ethereum’s lockup on the chain was US $28.38 billion, BSC’s lockup was US $4.89 billion, and Avalanche’s lockup was US $93.7 billion. Solana’s lock-up volume is US $257.7 million, and Polygon’s lock-up volume is US $114 million.

At present, DeFi’s total network lock-in volume (TVL) is 48.53 billion US dollars

Interpretation of the news:


The latest report from defullama, a DeFi analytics site, reveals that the total net lock-up volume (TVL) of DeFi has declined by 2.18% in the last 24 hours, reaching a current total of US $48.53 billion. Despite this dip, Ethereum remains the dominant network for DeFi, with a lock-up volume of US $28.38 billion.

However, other networks are also making their mark. Binance Smart Chain (BSC) has a lock-up volume of US $4.89 billion, while Avalanche has a lock-up volume of US $93.7 billion. For Solana, the lock-up volume is US $257.7 million, with Polygon coming in at US $114 million.

One of the key takeaways from this report is the continued dominance of Ethereum in the DeFi space. Despite the growing popularity of other networks, Ethereum remains the go-to choice for many DeFi users and platforms. This is likely due to the network’s strong infrastructure and established ecosystem, as well as the fact that many of the most popular DeFi protocols and applications are built on Ethereum.

At the same time, the rise of BSC and Avalanche highlights the growing competition in the DeFi market. These networks offer their own unique features and advantages, such as faster transaction times and lower fees. As the DeFi ecosystem continues to evolve and expand, it’s likely that we’ll see even more networks competing for market share.

Finally, the comparatively low lock-up volumes of Solana and Polygon suggest that these networks are still relatively new to the DeFi space. However, both networks have been gaining momentum in recent months, with more projects and protocols being built on each platform. It will be interesting to see how their lock-up volumes evolve in the coming months and whether they can challenge the dominance of Ethereum and other established networks.

In conclusion, this report highlights the ongoing growth and competition in the DeFi market. While Ethereum remains the clear leader in terms of lock-up volume, other networks are gaining ground and offering valuable alternatives to users and developers. As more projects and protocols are built on these networks, the DeFi landscape is sure to evolve even further.

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