Weekend Roundup: Core DeFi Metrics August 22nd

The decentralized finance (DeFi) ecosystem has had a mixed reaction to the recent upheavals in price trend in the global cryptocurrency industry of late. Amidst the bull and bear actions, DeFi tokens have held strong to their fundamentals, a move that has prevented strong selloffs even amongst the top coins by market capitalization.

DeFi Total Value Locked (TVL)

The DeFi ecosystem has continued to see inflows of cash into the wide range of protocols including the lending, derivatives, and decentralized exchange markets respectively. According to DeFi Pulse, the Total Value Locked in DeFi is currently pegged at $84.14 billion, up from $62.921 billion in the past month.

DeFi 90 TVL Trend. Source: DeFiPulse

The broader cryptocurrency ecosystem has seen a lot of price changes with periods of ups and downs in this same time period, however, this DeFi metrics shows many investors chose to secure their holdings with the yielding options made possible by the decentralized finance markets. The current TVL figure is just about $3.56 billion from the highest peak attained back in May. This is an indication that the DeFi market has almost pared off the losses accrued during the previous crypto market flash crash earlier in the second quarter.

Based on protocol performances, DeFi lending protocol, Aave has the highest amount of liquidity locked in with a value coming in at $15.95 billion atop a dominance rate of 16.14%. InstaDApp comes second with $12.01 billion in total assets locked with Curve Finance occupying the third position with $11.29 billion.

DeFi Protocols Price Outlook

The broad DeFi market capitalization according to data from CoinMarketCap is currently pegged at $112.95 billion. Ethereum-based Decentralized exchange, Uniswap (UNI) is the most valuable DeFi protocol in terms of market capitalization and is currently changing hands at $27.41, down 5.27% in the past 24 hours. 

While Chainlink (LINK), Terra (LUNA), and Avalanche (AVAX) are currently paring off losses at 3.87%, 3.56%, and 10.13%, Ox (ZRX), Loopring (LRC), and Kava.io (KAVA) are currently on amongst the top gainers with 2.39%, 55.15%, and 12.31% respectively. 

Price changes are transient in the broader cryptospace and this is also currently reflected in the DeFi market. The $112 billion contribution of these crypto offshoots showcases strength and resilience amidst claims of regulatory clampdown on the space by various authorities.

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