The most noteworthy DeFi data in the past week

By @Dynamo_Patrick

Source: Twitter

Every week in the crypto space is like a new episode of a sitcom.

Numbers can help us cut through the noise and spot new trends.

This article lists the most noteworthy DeFi data in the past 7 days, let us find out.

Among the top 10 chains by TVL, Arbitrum and Optimism are relatively stable, while the TVL of most chains has dropped significantly.

The strength of Ethereum Layer 2 is now evident.

Dogechain once again stood out as the top performer, with a 116% increase in TVL this week to $20.6 million.

The surge was facilitated by the lucrative DC airdrop.

KibbleSwap has become a star in the Dogechain ecosystem, growing 593% this week to become the largest DEX.

Canto also continued to perform strongly in a volatile market.

Canto's TVL rose another 122% this week to $89.1 million.

The growth in just a few weeks is staggering.

Among the major DeFi protocols, 4 stood out this week for their TVL growth.

Balancer(BAL): +6.0%

Frax (FXS): +12.9%

Stargate (STG): +5.2%

GMX (GMX): +5.1%

In a market with a downtrend, growth signals strong fundamentals.

Another interesting statistic is that the total market capitalization of stablecoins on METIS increased by 13.9% this week to $50.8 million.

Stablecoin growth usually indicates that funds are entering a chain.

Here are the top 10 dApps by protocol revenue over the past 7 days:

dYdX - $5.1 million

OpenSea - $3 million

Synthetix - $1.8 million

PancakeSwap - $1.5 million

Looks Rare - $900,000

ENS - $884,000

GMX - $856,000

MetaMask - $739,000

X2Y2 - $718,000

Lido Finance - $630,000

Note the growth of GMX and SNX.

GMX's revenue rose another 32.8% for the week, for a total of 43.2% month-over-month.

Over the past 30 days, GMX users have paid out $7.16 million in fees, of which $2.15 million went to token holders.

SNX's revenue also continued to grow, increasing 18.8% week-over-week.

Over the past 30 days, Synthetix has brought in $5.67 million.

Revenues in the NFT market continue to decline. OpenSea had its worst day for revenue in more than a year, and LooksRare had its worst week ever.

Here are the 12 DEXs with the highest trading volume in the past 12 hours. Note the 3 protocols on Polygon and the persistence of DODO as a top DEX.

Average daily transactions on top EVM chains and L2 over the past week.

ETH: 1.05 million transactions (-4%)

BSC: 2.92 million transactions (-6%)

Poly: 2.86 million transactions (-3%)

AVAX (all subnets): 1.64 million transactions (+18%)

FTM: 696,000 transactions (-12%)

Dogechain: 388,000 transactions (+8%)

Arbi: 134,000 transactions (+32%)

OP: 121,000 transactions (-14%)

A few key points about the number of transactions this week:

On August 23rd, 24th and 25th, the number of transactions on Polygon exceeded that of BSC

On August 25, the number of transactions on Dogechain was 32,000 fewer than that of Fantom

Most of Avalanche's transaction volume occurs on the DFK subnet

Data Sources:

TVL - Defi Llama

Stablecoin - DefiLlama

Income-Token Terminal

DEX Trading Volume - CoinGecko

Number of Transactions-Blockchain Explorer