Terra Becomes Second-Largest DeFi Protocol Surpassing Binance Smart Chain

Posted on by American Coins & Gold

Terra Becomes Second-Largest DeFi Protocol Surpassing Binance Smart Chain
Decentralized payments network Terra is now the second-largest blockchain for decentralized finance (DeFi) protocols in terms of total value locked (TVL). Terra, which is behind Ethereum, crossed Binance Smart Chain (BSC) this week.On Terra, 13 projects lock over $18.2 billion in value, data from analytics tool DeFiLlama show. That’s over $1.4 billion per protocol on average compared to an average of $73 million per protocol on BSC, which has $16.5 billion locked on 225 protocols.The figures are a near 42,000% increase compared to December 2020, when DeFi projects on Terra held a relatively smaller $42 million in value.Ethereum retains the…