Total Value Locked (TVL) in decentralized finance (defi) has rebounded in fiat value after suffering some losses last week. Statistics show that the TVL definition of $ 248 billion has increased 3.46% in the last 24 hours and the blockchain Terra has surpassed the Binance Smart chain in terms of TVL by any means.
The defibrillation value of Terra Protocol rises, LUNA reaches an all-time high
the Terra protocol has made waves as a native crypto asset of the blockchain (LUNA) is up more than 45% in the past week. Digital currency recently hit an all-time high (ATH) and LUNA is now the ninth largest crypto asset in terms of market valuation. In addition to LUNAs at the last ATH, the blockchain network overtook the Binance Smart Chain (BSC) in terms of TVL in defi.
For most of the year, BSC was the second largest blockchain network in terms of Defi-TVL. However, this week the Terra protocol outperformed BSC by a few billion dollars. Terras TVL loud today defillama.com, is around $ 19.34 billion, while BSC was around $ 16.67 billion on Tuesday. The Terra TVL in Defi is 16.01% larger than BSC and has increased 65.99% in the past week.
Terra TVL in Defi makes 7.79% of the aggregate value blocked across all chains
Much of the source value is due to Terra’s native token LUNA Reaching new highs, the Terra Protocol stablecoin UST is increasing its tokens in circulation. Bitcoin.com news recently reported how the UST outperformed the stablecoin DAI and the 30-day statistics show that the UST has increased by 29.2%. LUNAs largest trading couple is Tether (USDT) today with 62.25% of all LUNA trades, and BTC follows Tether with 14.81% of trades.
Show global pairs LUNA has a strong relationship with BUSD (10.42% of all.) LUNA Shops), BNB (3.49%), USD (3.09%) and KRW (2.55%). The most active exchanges that trade LUNA today include Binance, Okex, Kucoin, Huobi Pro and Bithumb Global. While the TVL in Defi of the Terra Protocol has risen sharply, it still has a long way to go to catch up with the TVL in Defi of Ethereum.
Ethereum has $ 155.2 billion, which is 62.58% of the $ 248 billion tied up in Defi today. The Terra Protocol TVL in Defi accounts for only 7.79% of the total $ 248 billion locked in Defi and BSC has 6.72% of that. Other TVLs in decentralized finance have risen sharply in the past seven days, including Avalanche at 19.25% and the Chronos Network (CRO) at 16.29%.
What do you think of the recent increase in decentralized funding through the Terra Protocol that is surpassing BSC? Let us know what you think on this matter in the comments below.
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Source: Crypto News Austria