Smart Contract Tokens, DeFi Economy See Strong Growth, Market Cap Increases To $78 Billion In 30 Days
It has been a tough crypto winter and crypto assets have been hit hard after a number of bankruptcy declarations for or within the industry and companies calling it quits and we can say that with the sad results of the latest and last year and Along with this, one of the setbacks received was the collapse of FTX which certainly affected everyone and after its bankruptcy filing, there was a huge downturn in the industry where many businesses came to a standstill and Certainly there was a decline in the economy in the last 2 weeks which affected the whole world. The sluggishness of the holiday market in November and December, and at the end of the year made things even busier, and about 30 days ago, on December 18, the Smart Contractor token economy was valued at $243 billion, and so are the coins. A great deal much value was lost. For example, Ethereum (ETH) was down 6.1% on the week, and Cardano (ADA) was down 14.4%.
If we see that week all 10 major smart contract coins were down 2 points against the US Dollar but in the last month smart contract platform token economy increased by $78 billion which reached to $321 billion by 17 Jan 2023 . We can say that smart contracts that made major moves this week include OneLedger (OLT), Harmony (ONE), Waves (Waves), Solana (SOL), Phantom (FTM) and Avalanche (AVAX). The aforementioned smart contract token is up 37.2% to 53.7% against the US Dollar in seven days. Other notable smart tokens this week include Holo (HOT), Ronin (RON), Parseek (PRQ), and Immutable x (IMX) in Coin Gainer, just to name a few. The increase in smart contracts in the last month has also boosted decentralized finance and according to the data currently the total value locked from September 18 to January 17, 2023 has increased by $5.39 billion. It was around $39.9 billion 30 days ago, and has since increased to $45.29 billion. The largest and most prominent DeFi protocol on Jan 17th is Liquid Staking Solution Lido. The entire tv-l size of the DeFi protocol Lido is approximately $7.81 billion or 17.2% of the $45.29 billion TVL. Most of the increase in Lido was due to a 20.6% increase in Ether against the US Dollar. Regarding the overall DeFi TVL, we can say that it shows a correlation with smart token contracts, with a 2-digit gain achieved in the last month very correctly.
