The total value locked (TVL) in decentralized finance (defi) has slid 8.53% over the last five days since August 14, 2022. At the time, the TVL was $67.87 billion but today, the value locked in defi is approximately $62.08 billion. Moreover, the top smart contract platform tokens by market valuation today are worth $372 billion, but overall the dozens of smart contract crypto assets have lost 7.8% in value during the last 24 hours.
Smart Contract Token Economy Slides Lower, Total Value Locked in Defi Loses 8.53% Since August 14
On August 19, 2022, the top smart contract tokens like ethereum (ETH), binance coin (BNB), cardano (ADA), solana (SOL), polkadot (DOT), and avalanche (AVAX) are all down in value against the U.S. dollar. There are dozens of smart contract tokens and collectively they are all worth $347 billion, down 7.8% according to today’s market data.
Ethereum leads the pack with the largest market capitalization as ETH now commands 19.2% of the crypto economy’s $1.14 trillion in value. Out of the entire lot of smart contract coins worth $347 billion, ETH’s $208 billion market cap represents 59.94% of the top smart contract tokens by valuation.
At the same time, the smart contract crypto economy equates to roughly 32.12% of the crypto economy’s $1.08 trillion valuation. While the top smart contract tokens’ market performances have been lackluster, the value locked in defi has been the same. Today there’s $62.08 billion in value locked into the numerous defi protocols in existence and defillama.com stats detail the protocol Makerdao dominates by 13.45%.
Data shows that the defi protocol Makerdao’s TVL on August 19, is around $8.35 billion. Following Makerdao’s TVL, today’s top defi
