DeFi TVL breaks new record as BSC-based protocols add billions

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Almost $ 79 billion in assets are currently locked in decentralized financial logs, according to data aggregator DeFi Llama.

DeFis TVL currently equates to roughly double the capitalization of the third-placed crypto asset Binance Coin, almost a third of the market capitalization of Ethereum, and the capitalization of the world’s top 200 company Snap Inc – the company behind Snapchat.

Most of TVL’s growth over the past week appears to have been driven by a handful of platforms, with only three of the ten largest protocols in the sector seeing growth.

The DApps resident in Binance Smart Chain continue to lead the growth of the sector. Fourth place PancakeSwap added around 29%, or $ 1.3 billion, to its TVL last week. Ellipsis Finance, the newcomer stablecoin DEX, has also attracted significant capital – $ 1.9 billion and ranked 13th from TVL less than a week after launch.

Some Ethereum-based projects also saw significant increases: Instadapp in 11th place doubled its TVL to $ 1.05 billion, Yearn Finance in 14th place doubled i TVL with an increase of around 850 million US dollars and Vesper Finance in 18th place 84% said to exceed $ 1 billion within six weeks of launch.

While the combined TVL of DeFi protocols has increased by about 10% in the past seven days, data from cryptanalysis provider Messari suggests that the average performance of DeFi assets has decreased by about 1% over the past week.

The total set in the DeFi logs continues to hit new record highs, despite the fact that most of the leading decentralized financial platforms with Ethereum support saw a decline over the past week.