Defi TVL climbs higher, use of optimism increases, 270K BTC on ETH, loans on ETH hit $ 44 billion – Defi Bitcoin News
As of mid-September, the total locked-in value (TVL) in decentralized finance (challenge) continues to climb, as the value held on Ethereum, Binance Smart Chain, Avalanche, Solana and other blockchains has increased significantly to reach 171 billion dollars today. On the Ethereum network, there are 270,783 bitcoins held in TVL worth over $ 13 billion and $ 15 billion has been traded on 14 different Ethereum-based decentralized exchange (dex) platforms. $ 23.8 billion has been traded between various blockchain protocols, according to a recently released weekly challenge report.
The growth of the challenge remains exponential
A number of crypto assets like bitcoin (BTC) and ethereum (ETH) have risen in value over the past month, but for the most part, crypto-assets like solana (SOL) and avalanche (AVAX) have stolen the show. in the last 30 days.
Decentralized Finance (challenge) solutions continue to grow exponentially and statistics from Dune Analytics indicate that $ 15 billion has been traded on 14 Ethereum-based dex platforms. Uniswap captured over 62% of that $ 15 billion in global trade volume by ordering $ 9,620,102,739 in swaps over the past week.
While Uniswap has a lot of volume, the Binance Smart Chain dex Pancakeswap has a TVL of around $ 5.55 billion according to metrics recorded on Saturday. Sushiswap has $ 5.46 billion and it has a lot more connections than the BSC network alone. The total weekly dex trading volume on a number of blockchains according to Coin98 Analytics is $ 23.8 billion.
The measurements show that there is $ 171 billion in TVL spread across a myriad of blockchains. Ethereum still dominates TVL by far, but a number of other chains have risen through the ranks in terms of activity over the past month.
Data from the latest challenge report from Coin98 Analytics shows that the total number of Polygon wallets has exceeded 68.3 million. The results from Coin98 Analytics also show that “Optimism and Arbitrum addresses increased 2 and 6 times, respectively”.
“Although the number of Optimism addresses [has] significantly surpassed that of Arbitrum, last week means a big increase in Arbitrum against optimism, ”Coin98 Analytics said. “Specifically, the total number of arbitration addresses reached 121,000, while the number of optimism addresses fell behind to 103,000,” the report adds.
Over $ 7 billion on bridges, TVL loan on Ethereum reaches $ 44 billion, large amount of Bitcoin mined on Ethereum
Dune Analytics’ Bridge Away (L1 Ethereum) statistics show that there is $ 7.71 billion TVL on Harmony, Near Rainbow Bridge, Optimism ERC20 Bridges, Arbitrum Bridges, Solana Wormhole, Fantom Anyswap Bridge, Polygon ERC20 Bridge and the Avalanche Bridge. On Friday, the Wormhole Project announced that its ETH – SOL token bridge is now live.
L2fees.info states that an ether transfer using Loopring is $ 0.25, a transfer through Polygon Hermez is also $ 0.25, Zksync is $ 0.27, Arbitrum One costs $ 1.64 and Optimism costs around $ 3.06 on Saturdays. Meanwhile, L2fees.info shows that the median fee to send ethereum (ETH) on September 18 is over $ 5 per transfer.
Another interesting statistic for the challenge this week discovered by Coin98 Analytics, is the total value of locked-in loans on Ethereum today is around $ 44 billion. Additionally, out of seven different bitcoin (BTC) projects that use the Ethereum network, 270,783 bitcoin are held at TVL worth over $ 13 billion today.
This measure includes projects such as WBTC, TBTC, SBTC, IMBTC, PBTC, HBTC and RENBTC. 76% of the 270,000 bitcoins or $ 13 billion of wrapped or synthetic BTC is used by the Wrapped Bitcoin (BTC) project and its participants.
What do you think of the growing activities linked to the decentralized finance space (challenge)? Are you planning to challenge slow down soon? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Dune Analytics, Coin98 Analytics, Defillama.com, L2fees.info, Coin98 Analytics Defi Report,
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