In mid-September, the Total-Value Locked (TVL) in decentralized finance (defi) continues to rise, as the value of Ethereum, Binance Smart Chain, Avalanche, Solana and other blockchains has risen dramatically to USD 171 billion today. In the Ethereum network there are 270,783 bitcoins in TVL worth more than 13 billion US dollars and 15 billion US dollars were exchanged via 14 different Ethereum-based decentralized exchange platforms (Dex). According to a recently released weekly Defi report, $ 23.8 billion has been exchanged over a variety of blockchain protocols.
Defi growth remains exponential
A number of crypto assets like Bitcoin (BTC) and Ethereum (ETH) have appreciated in value over the past month, but for the most part, crypto assets like Solana (SOL) and Avalanche (AVAX) have stolen the show over the past 30 years Days.
Decentralized financial solutions (defi) continue to grow exponentially and statistics from Dune Analytics show that $ 15 billion was exchanged on 14 Ethereum-based Dex platforms. Uniswap captured more than 62% of the world’s $ 15 billion in trade by managing $ 9,620,102,739 in swaps in the past week.
While Uniswap is big in volume, the Binance Smart Chain Dex Pancakeswap has a TVL of around $ 5.55 billion according to metrics recorded on Saturday. Sushiswap is $ 5.46 billion and has way more connections than just the BSC network. Dex’s total weekly trading volume across a number of blockchains is $ 23.8 billion, according to Coin98 Analytics.
Metrics show that $ 171 billion in TVL spans a variety of blockchains. Ethereum still dominates the TVL by far, but a number of other chains have climbed the ladder in terms of activity over the past month.
Data from Coin98 Analytics’ latest Defi report shows that the total number of Polygon wallets has exceeded 68.3 million. The results of Coin98 Analytics also show that “Optimism and arbitrum addresses have increased by two and six times respectively”.
“Although the number of optimism addresses [has] far outperformed by Arbitrum, last week marks a sharp surge in Arbitrum versus Optimism, ”said Coin98 Analytics. “In particular, the total number of arbitrum addresses reached 121,000 while the number of optimism addresses fell short of 103,000,” the report added.
Over $ 7 billion across bridges, TVL lending on Ethereum reaches $ 44 billion, a large amount of bitcoin is leveraged on Ethereum
The Bridge Away (L1 Ethereum) statistic from Dune Analytics shows that there is $ 7.71 billion TVL on Harmony Bridges, Near Rainbow Bridge, Optimism ERC20 Bridges, Arbitrum Bridges, Solana Wormhole, Fantom Anyswap Bridge, Polygon ERC20 Bridge and the Avalanche Bridge there. On Friday, the Wormhole project announced that its ETH – SOL is token bridge Live now.
L2fees.info states that an Ether transfer with loop ring costs $ 0.25, a transfer via Polygon Hermez also costs $ 0.25, Zksync $ 0.27, Arbitrum One $ 1.64 and Optimism about $ 3.06 on Saturday. L2fees.info, meanwhile, shows that the average fee to send Ethereum (ETH) is over $ 5 per transfer on September 18th.
Another interesting statistic for Defi discovered by Coin98 Analytics this week is that the total Ethereum-locked lending value is around $ 44 billion today. Also, of seven different Bitcoin (BTC) projects using the Ethereum network, 270,783 bitcoins are in TVL, valued at more than $ 13 billion.
This measurement includes projects such as WBTC, TBTC, SBTC, IMBTC, PBTC, HBTC and RENBTC. 76% of the 270,000 Bitcoin, or $ 13 billion of packaged or synthetic BTC, is used by the Wrapped Bitcoin (BTC) project and its participants.
What do you think of the growing activities related to decentralized finance (defi)? Do you imagine that it will slow down soon? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Dune Analytics, Coin98 Analytics, Defillama.com, L2fees.info, Coin98 Analytics Defi Report,
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