The total value locked (TVL) across all decentralized finance (DeFi) platforms has reached a record high this week as the total value locked in DeFi rises to $200 billion.
<h2 class="article__header__heading">Total Value Locked Across Defi Chains Hits $200 Billion</h2>
According to the data analytics platform <a href="https://defillama.com/home" target="_blank" rel="nofollow noopener">DeFi Llama</a>, the total amount of collateral locked in DeFi has tapped $200 billion. This is an increase of nearly 825% when there was just $21.4 billion locked in DeFi protocols since the beginning of the year.

According to the report, <em>“Large institutional transactions, meaning those above $10 million in USD, accounted for over 60% of DeFi transactions in Q2 2021, compared to under 50% for all cryptocurrency transactions.”</em>

Ethereum (ETH), the second-largest crypto by market cap, still dominates the most in terms of TVL with $135.05 billion which means it dominates 69.2% of the entire DeFi TVL. In addition, Binance Smart Chain (BSC) follows with around $17.03 billion in TVL or 12.59% of the aggregate TVL value locked.

Furthermore, <a href="https://www.cryptoknowmics.com/news/wormhole-launches-solana-and-ethereum-nft-bridge/">Solana</a> comes after BSC with $11.5 billion, Terra with $10.07 billion, and Polygon with $4.6 billion. Followed by them are Avalanche with $4 billion, Fantom with $2.31 billion, and Waves with $1.85 billion.

Other alternative blockchain accounts like Terra account for $10.07 billion, Polygon at $4.6 billion, Avalanche at $4 billion, Fantom at $2.31 billion, and Waves at $1.85 billion. Between Waves TVL and the Binance Smart Chain TVL, the seven blockchains have 26.15% of the $195 billion.
<h2><strong>Curve is the Top Decentralized Exchange</strong></h2>
Currently, Curve is the top decentralized exchange followed by Sushiswap, Pancakeswap, <a href="https://www.cryptoknowmics.com/news/shiba-inu-reaches-900k-followers-on-twitter-surpasses-uniswap-solana-litecoin/">Uniswap</a>, Balancer, and Saber. Three of the dex platforms like Saber, Pancakeswap, Uniswap are all single chain dex applications, while Curve connects with five crypto networks. Sushiswap is compatible with 13 blockchains, and Balancer connects with three chains.

The Curve protocol dominates the market with 7.63% total market share and 10.22% market dominance in Ethereum TVL. Saber maintains the highest dominance on the Solana network with 26.05% of its TVL. Data from CoinGecko indicates that the market capitalization of all the DeFi tokens is $131 billion or around 5.5% of the total.

Total Value Locked in DeFi Has Reached a High of $200 Billion

The total value locked (TVL) across all DeFi platforms has reached a record high this week as the total value locked in DeFi rises to $200 billion.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Total Value Locked in DeFi Has Reached a High of $200 Billion

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