The total value locked (TVL) in decentralized finance (defi) has rebounded in fiat value after suffering some losses last week. Statistics indicate that the $248 billion TVL in defi has increased 3.46% during the last 24 hours and the blockchain Terra has overtaken the Binance Smart Chain in terms of TVL in defi.
Terra Protocol’s Defi Value Swells, LUNA Taps an All-Time High
The Terra protocol has been making waves as the blockchain’s native crypto asset (LUNA) has increased more than 45% over the last week. The digital currency recently tapped an all-time high (ATH) and LUNA is now the ninth-largest crypto asset in terms of market valuation. In addition to LUNA’s recent ATH, the blockchain network has overtaken the Binance Smart Chain (BSC) in terms of TVL in defi.
LUNA/USD chart via Binance on December 21, 2021, at 8:00 p.m. (EST).
For most of the year, BSC was the second-largest blockchain network in terms of defi TVL. However, this week the Terra protocol has surpassed BSC by a few billion dollars. Terra’s TVL today, according to defillama.com, is around $19.34 billion while BSC is around $16.67 billion on Tuesday. The Terra TVL in defi is 16.01% larger than BSC and its increased 65.99% during the last week.