Aave and Uniswap were among the top 10 Ethereum protocols by total locked value. Meanwhile, MakerDAO, Lido, and Curve DAO make up the top three Ethereum protocols according to TVL.
Uniswap is also in the top ten Ethereum protocols in terms of TVL
Crypto analyst Ben GCrypto has shared the top ten Ethereum protocols in terms of Total Value Locked (TVL). In the list, MakerDAO (MKR), Lido Finance (LIDO), and Curve DAO (CRV) are among the top three Ethereum protocols according to TVL. The analyst shared the following on his Twitter account:
Top 10 Ethereum protocols in terms of Total Locked Value. Ethereum is a complete ecosystem where anyone can create various distributed applications (Dapp), smart contracts and even their own cryptocurrencies.
In the list shared by the crypto analyst, Aave (AAVE) ranks fourth with $4.13 billion. It is followed by Uniswap (UNI) in fifth place with $4.06 billion Total Value Locked. Convex Finance (CVX), Compound (COPM) and Instadapp (INST) are ranked sixth, seventh and eighth respectively. Finally, Balancer (BAL) and Frax Finance (FRAX) placed ninth and tenth.
Developments on altcoin projects on the list
Last year, MakerDAO announced that the DAO was fully adequate and the Maker Foundation had fulfilled its bootstrapping responsibilities. This has allowed the global community to be responsible for every aspect of the Maker Protocol.
cryptocoin.comAs you follow, Aave introduced Aave V3, which increases capital efficiency, improves security, improves cross-chain functionality and supports decentralization, in March. With the new Aave V3, many features such as Portals, High Efficiency Mode aka “E-Mode” and Isolation Mode have been included in the protocol.
Also, last week Lido conducted the first pilot integration of Distributed Verifier Technology (DVT) with SSV Network on Goerli test net. Lido mentioned that next month, progress on DVT testing and experiments will be updated to its community.
The analysis shared by the analyst focuses on Total Key Value (TVL). However, the situation is slightly different when it comes to market value. Because, Uniswap, which is in fifth place, has a market value of $5.1 billion. Lido and Aave, in third and fourth place, have a market capitalization of 1.1 billion. Meanwhile, Frax Finance has a market capitalization of $1.2 billion. However, FRAX ranks lowest on this chart.
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