בשעת ETHW האט פאַרפאַלן 35% אין 2 וואָכן, PoW Network's Defi TVL געשוואָלן מיט מער ווי 1,200%

While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200%

Since the cryptocurrency launched ethereumpow (ETHW) has seen spot market prices decline by close to 12% during the last seven days. Despite the fact that during the last two weeks ETHW has shed 35% in USD value, the network’s token economy and decentralized finance (defi) ecosystem has swelled.

ETHW Spot Market Prices Slide, While the Network’s Total Value Locked in Defi Climbs

Ethereumpow (ETHW) markets haven’t been so hot in recent times and since the crypto asset’s value was recorded before the mainnet went live, ETHW is down roughly 88% from the all-time high recorded two months ago on September 3, 2022.

During the last two weeks against the U.S. dollar, ethereumpow (ETHW) has shed around 35% in value. On Tuesday, October 18, 2022, the crypto asset has been exchanging hands for $6.94 to $7.34 per unit during the last 24 hours.

Furthermore, after capturing close to 70 terahash per second (TH/s) of hashrate, ETHW’s total hashpower worldwide is down to 37.66 טה / s. While the network’s native crypto asset ETHW has performed poorly market-wise in recent times, ETHW’s total value locked (TVL) in defi has skyrocketed.

סטאַטיסטיק from defillama.com indicate that ETHW’s TVL is around $3.69 million after records show on September 24, that the TVL was $283,153. This means that since September 24, or over the last 24 days, ETHW’s TVL in defi increased in value by 1,209%.

Defillama.com stats indicate that there’s roughly 13 different ETHW defi protocols dedicated to the network. The decentralized exchange (dex) Uniwswap, ניט צו זיין צעמישט מיט וניסוואַפּ, is the largest defi protocol on ETHW today with 52.13% dominance of the current $3.69 million.

The dex platform has around $1.92 million according to data recorded on October 18. The second-largest ETHW defi-related protocol Lfgswap has around $1,404,733 in value locked. This means that Uniwswap and Lfgswap dominate most of ETHW’s defi ecosystem in terms of TVL.

ETHW has roughly a dozen tokens with the entire ETHW token ecosystem (including ETHW) valued at roughly $800 million. The ETHW protocol is number 83 in terms of positions held by TVL in defi today, while Ethereum Classic (עטק) network is around 119 today. ETC’s defi ecosystem is much smaller than ETHW’s, in terms of TVL size, as defillama.com metrics show Ethereum Classic’s TVL today is $537,243 among five different defi protocols.

רוב פון די עטק TVL is held between two defi protocols on that leverage the Ethereum Classic chain which include Hebeswap and Etcswap. עטק’s value compared to ETHW’s is a lot larger and the asset’s $3.24 billion market cap is also colossal compared to the newly introduced crypto asset.

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What do you think about ETHW’s recent spot market action and the network’s defi TVL increasing during the last few weeks? Let us know what you think about this subject in the comments section below.

Jamie redman

Jamie Redman איז די נייַעס פירן ביי Bitcoin.com News און אַ פינאַנציעל טעק זשורנאַליסט לעבעדיק אין פלאָרידאַ. Redman איז אַן אַקטיוו מיטגליד פון די קריפּטאָקוררענסי קהל זינט 2011. ער האט אַ לייַדנשאַפט פֿאַר ביטקאָין, אָפֿן-מקור קאָד, און דיסענטראַלייזד אַפּלאַקיישאַנז. זינט סעפטעמבער 2015, Redman האט געשריבן מער ווי 6,000 אַרטיקלען פֿאַר Bitcoin.com נייַעס וועגן די דיסראַפּטיוו פּראָטאָקאָלס ימערדזשינג הייַנט.