The Terra protocol surpasses the Binance smart chain in terms of value locked in Defi – Defi Bitcoin News

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After suffering some losses last week, the total locked-in value (TVL) in decentralized finance (defi) has rebounded from the legal value. Statistics show that in the past 24 hours, the $248 billion defi TVL has increased by 3.46%, and the blockchain Terra has surpassed the Binance Smartchain in terms of defi TVL.

Terra Protocol’s Defi value swells, LUNA hits a record high

This Terra Agreement As the original encrypted assets of the blockchain, it has been making waves (Luna) This is an increase of more than 45% from last week. The digital currency recently hit an all-time high (ATH). In terms of market valuation, LUNA is now the ninth largest crypto asset.also Luna’s In recent ATH, the blockchain network has surpassed the Binance Smart Chain (BSC) in terms of defi’s TVL.

The Terra protocol surpasses the Binance smart chain in terms of value locked in Defi
The LUNA/USD chart published by Binance at 8:00 pm (Eastern Standard Time) on December 21, 2021.

For most of the year, BSC is the second largest blockchain network calculated by defi TVL. However, this week’s Terra agreement has surpassed BSC by billions of dollars. According to today’s Terra’s TVL defillama.com, About 19.34 billion U.S. dollars, while BSC was about 16.67 billion U.S. dollars on Tuesday. Terra TVL in defi is 16.01% larger than BSC, and has increased by 65.99% last week.

Terra TVL in Defi is 7.79% of the total value locked on all chains

A lot of the inflated value is due to Terra’s native token Luna Reaching a new price high, the stablecoin UST of the Terra protocol has increased its circulation tokens. Bitcoin.com recent news Report Regarding how UST surpassed the stable currency DAI, 30-day statistics show that UST has grown by 29.2%. Luna’s The largest trading pair is the tether (USDT) Today accounted for 62.25% of all LUNA transactions, and Bitcoin It follows Tether with 14.81% trading volume.

The Terra protocol surpasses the Binance smart chain in terms of value locked in Defi
According to the total value of defillama.com locked in decentralized finance at 8 p.m. (Eastern Standard Time) on December 21, 2021.

Global show Luna Strong relationship with BUSD (10.42% of all Luna trade), Bitcoin (3.49%), U.S. dollar (3.09%) and Korean won (2.55%). The most active exchanges currently exchanging LUNA include Binance, Okex, Kucoin, Huobi Pro and Bithumb Global. Although the TVL of the Terra protocol has increased a lot in defi, there is still a long way to go to catch up with the TVL of Ethereum in defi.

The Terra protocol surpasses the Binance smart chain in terms of value locked in Defi
According to data from defillama.com at 8pm (Eastern Standard Time) on December 21, 2021, the top three chains are calculated based on the total value locked in decentralized finance.

Ethereum has USD 155.2 billion, accounting for 62.58% of the USD 248 billion locked in today. The TVL of the Terra protocol in defi only accounts for 7.79% of the total USD 248 billion locked in defi, while BSC accounts for 6.72% of the total. TVL in other decentralized finance has grown significantly in the past 7 days, including Avalanche’s growth of 19.25% and Chronos (CRO) network growth of 16.29%.

Tags in this story

avalanche, Binance Smart Chain, BSC, Kronos, Go to financial institution, Ethereum, Ethereum, Ethereum, Ethereum definition, Stablecoin, Earth, Earth (moon), Terra Dife, Earth Agreement, Land TV, Terra TVL definition, TV line, TVL in definition, put

What do you think of the decentralized financial growth that the Terra Protocol has recently surpassed BSC? Please tell us your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the head of news at Bitcoin.com News and a fintech reporter living in Florida. Since 2011, Redman has been an active member of the cryptocurrency community. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 4,900 articles about destructive protocols emerging today for Bitcoin.com News.




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