The total volume allocated in the DeFi protocols again reached record levels. According to data provided by the company DeFiLlama, the total volume in recent days again exceeded $ 150 billion. These are similar levels to those recorded in mid-May, when the ETH, the BNB and other cryptocurrencies or tokens related to the world of decentralized finance recorded their absolute historical highs in price.
Right now, for example, the price of ETH is 28% lower than the maximum on 12 May and BNB prices are 29% lower than the maximum on 10 May.
At the beginning of 2021, the total locked value (TVL) was just over 20 billion, but rose sharply from $ 0.6 billion at the beginning of 2020. On February 21, when $ 60 billion was exceeded for the first time.
The role of BTC in DeFi
After a brief and minimal decline, TVL returned to growth, beating $ 100 billion in mid-April, roughly in line with BTC’s all-time high. However, it must be said that BTC does not play a significant role in the world of DeFi, at least for the time being, because it is mainly ETH and BNB that dominate this sector and are waiting for the ADA to comment in this regard as well.
After the first exceed of $ 150 billion in mid-May, TVL dropped below $ 90 billion just ten days later. Until July 20, TVL tried to exceed $ 100 billion again, but then rose sharply again.
Solana is experiencing interesting growth. Solan-based DeFi TVL rose from $ 1.6 billion in mid-May to $ 2.5 billion a few days ago, a real increase from $ 0.5 billion at the end of June. However, it still remains far from $ 107 billion on Ethereum or $ 19 billion Binance Smart Chain.
The Smart Chain binance appears to be declining as current TVL levels are still well below the record level of nearly $ 30 billion in mid-May. It almost seems that the hype surrounding DeFi on the Binance Smart Chain has been exaggerated in recent months, and the current situation is more in line with the actual use of these protocols.
The most notable growth was in Avalanche, which rose from $ 0.4 billion in mid-May to the current $ 1.7 billion, a fourfold increase.
Terra is in third place behind ETH and Binance Smart Chain with approximately $ 6 billion.