Top X

These 4 Blockchains Note Substantial DeFi TVL Increases As Terra Drops Off A Cliff

Following the [temporary?] demise of the Terra ecosystem, DeFi enthusiasts have to look for alternative chains. Interestingly, the current market conditions prove beneficial to some of the smaller ecosystems out there. While these networks move up the DeFi TVl rankings, caution remains advised.

Kadena (+27%)

It is interesting to see how Kadena is rebounding strongly in the decentralized finance department. However, one must put everything in the correct perspective. The current 27% change means Kadena is home to $4.851 million in TVL. It is still far removed from the high of $19.3 million in early April 2022. Moreover, the top platforms still look pretty bleak for monthly TVL changes, ranging from -26.63% to -71.87%. Even so, things appear to be turning around, even if there are only four DeFi protocols to choose from. 

XDC (+30.63%)

The momentum behind XDC is ramping up, although the network’s combined Total Value locked remains very low. A 30.63% daily increase is substantial, but the overall TVL has yet to surpass $1.2 million again. That may be the start of a new beginning, as the network’s all-time high TVL was just over $2 million. Globlance is the only DeFi protocol on this network to gain traction so far, highlighting the need for more competition. 

Mikomeda (+29.77%)

The sidechain to unlock Ethereum-baed DeFi on Cardano has noted some initial success, although nothing too spectacular yet. Mikomeda is up by nearly 30% in DeFi TVL today, bringing its total back to $52.7 million. Most of the momentum comes from the Blueshift protocol, whereas everything else remains on thin ice. Setting a new all-time high past $97.35 million remains possible, but it may take a while. 

Parallel (+25.89%)

Not too many people talk about decentralized finance on the Parallel blockchain. Even so, it represents over $574 million in Total Value Locked, thanks to todays near 26% increase. It is interesting to see only one protocol – Parallel DeFi Super App – active on the chain, yet it appears many people like what this project offers. Moreover, it is an ecosystem that may record a new all-time high for DeFi TVL eventually, which is always promising.  


CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: contact@cryptomode.com None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.

JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

Share
Published by
JP Buntinx

Recent Posts

Burn to Earn: How Fitmint Lets You Exercise Your Way into Web 3

We all want to be healthier. They say exercise is so good for the body…

8 hours ago

What Is The Graph (GRT)?

The blockchain and cryptocurrency industry has become tremendously versatile over the years. Dedicated projects like…

9 hours ago

Can Mehracki (MKI) Compete With Meme Coin Giants Like Dogecoin (DOGE) and Shiba Inu (SHIB)

Meme coins generally rely on hype and buzz for their success, with the occasional endorsement…

10 hours ago

Coinbase commerce adds Siba Inu & APE, Gorilix (SILVA) hits new high

It’s been a long time coming, but community favourite Shiba Inu (SHIB) has now been…

11 hours ago

HOKKFi – A Community-Driven Token

Early in 2021, amid the meme-token boom, HOKK Finance set off on its voyage. Hokkaido…

14 hours ago

Laura K. Inamedinova on Maximizing Press for Blockchain Projects

Laura K. Inamedinova is the Founder & CEO of LKI Consulting, a London-based 7-digits B2B…

14 hours ago