Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions

Value Locked in Defi Sheds 10% During the Last 24 Hours — Terra Defi Apps Rock the Boat

• According to defillama.com stats, the value locked in decentralized finance protocols has dropped 10.58% in value during the past 24 hours, and 39.26% over the past 38 days since April 3, 2022. All ten of the top defi protocols in terms of TVL size have dropped between 1.61% and 19.42% in the last day.
• The defi protocol Lido dropped from the second-largest position to the third-largest on Wednesday after losing close to 20% in value. Lido supports a number of blockchains, and one of them is the Terra network as it pays rewards in UST payments and allows LUNA bonding.

• While the defi lending protocol Anchor was once the third-largest defi project just three days back, it is now holding the 12th position as it lost 66.34% during the last 24 hours. Seven-day stats show Anchor’s TVL lost 85.92% in value.
• One of the only defi protocols that has seen its TVL rise over the last week is Tron’s Sunswap as it’s up 10.69% during the past seven days. Dydx managed to see its TVL rise by 0.80% this week and Arrakis Finance jumped 4.48% higher this week.
• The stablecoin-centric automated market maker and decentralized exchange (dex) Curve Finance still dominated on Wednesday by 9.94% of the entire $139.81 billion. However, Curve is down 11.51% during the last 24 hours, 27% down for the week, adn 31.85% during the last month.

• The TVL in cross-chain bridges has also dropped 20.3% this month and there’s currently a TVL of around $16.49 billion spread across cross-chain bridge protocols. Polygon and Avalanche command the largest cross-chain bridge TVLs today.
• While Terra was once the second largest in the defi space under Ethereum’s TVL, it has dropped to the sixth position. $3.71 billion remains in Terra-based defi protocols, while the leader Ethereum has $86.51billion.