Good Contract Token Market Soars to $332 Billion; Defi Worth Reaches Excessive Not Seen Since FTX CollapseFebruary 3, 2023
The sensible contract token economic system rose 5.6% in opposition to the U.S. greenback on Thursday, reaching $332 billion. Moreover, the worth locked in decentralized finance (defi) elevated to just about $50 billion, a report excessive not seen because the collapse of FTX.
Good Contract Economic system and Defi TVL Bounces Again
On Thursday, Feb. 2, 2023, the highest sensible contract platform coin economic system increased to $332.86 billion, an increase of 5.6% within the final 24 hours. At the moment, roughly $20.44 billion in world buying and selling quantity is paired with sensible contract tokens. Of the highest ten sensible contract crypto belongings by market capitalization, polygon (MATIC) led in 24-hour positive factors, rising 12% within the final day. Aptos (APT) adopted with the second-largest improve, leaping 10.4% greater on Thursday.
Polkadot (DOT), chainlink (LINK), and solana (SOL) all skilled notable positive factors within the final day, leaping 6% to 7.1% greater. Good contract cash exterior the highest ten that noticed vital will increase embrace close to protocol (NEAR), which rose 11.4%, and fantom (FTM), which jumped 17.5% on Thursday. Parsiq (PRQ) was the most important gainer with a 27.7% improve, whereas counterparty (XCP) was the largest sensible contract token loser, shedding 9.9% on Thursday.
The worth locked in decentralized finance (defi) has additionally risen and is close to the $50 billion vary, at roughly $49.48 billion. Lido Protocol leads the defi pack, as its complete worth locked (TVL) right this moment represents 17.32% of the $49 billion on Thursday.
Lido’s TVL elevated by 5.79%, and the second-largest defi protocol, Makerdao, jumped 2.97% in 24 hours. Rocket Pool skilled one of many largest defi protocol will increase within the final day with a 7.38% rise. In line with defillama.com statistics, the highest 20 defi protocol TVLs have all seen double-digit will increase within the final 30 days.
Ethereum stays the top chain in decentralized finance right this moment, as its defi protocols dominate the whole worth locked (TVL) by 59.4%. Ethereum is adopted by Tron, Binance Good Chain (BSC), Arbitrum, and Polygon, respectively, by way of TVL measurement on Feb. 2, 2023.
Modifications over the previous month present that the highest ten blockchains by way of defi TVL have additionally seen double-digit will increase in TVL. The biggest improve within the final month was Optimism’s TVL, which elevated by 47.41% over the 30-day span. The final time the TVL in defi was this excessive was in Nov. 2022, simply earlier than the crypto alternate FTX collapsed.
What do you consider the market performances of sensible contract tokens on Feb. 2 and the rise in defi’s TVL? Share your ideas within the feedback sections beneath.