Whole network data overview
💵 Total stablecoin market capitalization: US$171.089 billion (+0.57%)
🔒 Overall TVL: US$79.397 billion (+2.8%)
Stablecoins continue to increase, and the total locked value (TVL) of the entire network stabilizes
The stablecoin has been growing steadily after topping $170 billion last week, reaching $171 billion at press time, still $17.3 billion shy of its all-time high of $188.3 billion. On the other hand, the total locked-up value of the entire network is still dominated by currency prices, stabilizing to US$79.3 billion, with no large net inflow of funds yet.
Source: DefiLlama Overall TVL & Stablecoin MarketCap
Overview of each public chain
Weekly TVL ⬆️ (criteria: TVL > $50 million)
Base: +10% ($1.551 billion)
Sui: +4.9% ($701 million)
TON: +16.8% ($400 million)
CORE: +27.5% ($380 million)
BitLayer: +25.4% ($350 million)
PulseChain: +17.0% ($294 million)
Sei: +13.4% ($142 million)
BounceBit: +82.4% ($56.3 million)
Weekly TVL ⬇️ (criteria: TVL > US$50 million)
Mantle: -3.9% ($437 million)
Aptos: -3.0% ($423 million)
Starknet: -3.3% ($234 million)
dYdX: -3.4% ($162 million)
zkSync: -3.5% ($73.56 million)
Special Observation Group (Enterprise Public Chain)
Kaia: +1.6% ($33.16 million)
Astar zkEVM: -1.5% ($3.93 million)
Mainstream public chains have poor liquidity, and Sui is temporarily ranked among the top ten
Among the public chains with a market value of more than 1 billion U.S. dollars last week, only Base achieved a 10% TVL change, while the other public chains with TVL fluctuations of more than 10% had a market value of less than 500 million U.S. dollars; indicating that the liquidity of the public chain sector is poor at this stage. , may lack sufficient accumulated funds to support the development of DeFi.
Source: DefiLlama Top Ten Public Chains TVL
As reported last week, Sui's total locked-up value rose to US$700 million as the currency price rebounded, overtaking Scroll and Hyperliquid, and currently ranks as the tenth largest public chain. Although Sui integrated stablecoin issuer Agora two weeks ago, it currently only issues $2.2 million worth of $AUSD, which is obviously still a long way from the total market value of its on-chain stablecoins of $360 million; Combined with the recent poor liquidity, it shows that Sui may need to rely on the continued issuance of $AUSD in the short term to stabilize its position in the public chain sector.
Source: DefiLlama Sui Stablecoins
Bitcoin compatible public chain sector (BTCFi) recovers
BTCFi has recovered after plummeting in the past few weeks, and CORE TVL has hit a new high since the mainnet was launched. This growth is mainly driven by the lending protocol Colend Protocol and the Bitcoin re-pledge protocol Pell Network; while the Colend lock-up value has exceeded last week Pell Network has become CORE’s largest DeFi protocol at the moment. In addition, BitLayer and BounceBit also experienced ups and downs due to the plunge of Pell Network TVL two weeks ago, and have now returned to high water levels, reflecting that some DeFi whales are still optimistic about the prospects of BTCFi.
Image source: DefiLlama Bitcoin Compatible Public Chain (BTCFi) TVL
📊Weekly DEXs Volume: US$23.627 billion (-18.6%)
Weekly DEXs Volume（Top EVM）
Ethereun: -23.2% ($7.260 billion)
Base: -11.1% ($2.814 billion)
Arbitrum: -21.6% ($2.57 billion)
BNB Chain: -28.8% ($2.484 billion)
Polygon: -18.3% ($517 million)
Avalanche: -8.8% ($469 million)
OP Mainnet: -24.5% ($376 million)
Weekly DEXs Volume（Top non-EVM）
Solana: -35.4% ($4.293 billion)
Tron: -23.4% ($473 million)
Thorchain: +75.7% ($441 million)
Sui: +24.5% ($305 million)
Aptos: +0.8% ($239 million)
TON: -15.7% ($134 million)
Osmosis: -15.9% ($72.86 million)
Overall on-chain transaction volume hits a half-year low
Last week, the volume of DEXs across the entire network reached a low of $23.6 billion, the lowest since March this year. Regardless of whether it is an EVM or non-EVM public chain, the transaction volume of the early stage (> 1 billion U.S. dollars) has dropped sharply across the board; although the Thorchain transaction volume of the middle stage has soared by 75%, it has not yet reached the level of three weeks ago (it was simply a decline of two weeks ago). Too much); Sui rose by 24%, maintaining the level of the past two months; while Tron's SunPump meme craze continued to fade, and the transaction volume fell by 23% to US$470 million. This series of severe declines in DEXs Volume indicates that the DeFi sector may be experiencing an annual off-season trough.
Source: DefiLlama’s on-chain transaction volume in one week
Source: DefiLlama Top ten on-chain transaction volume
📊Weekly Perps Volume on-chain: US$26.10 billion (-21.5%)
Sei: +42.6% ($984 million)
opBNB: +66.0% ($859 million)
The overall on-chain perpetual transaction volume hit a six-month low
In addition to DEXs Volume, the total network transaction volume of on-chain perpetual contracts also fell to a low of $26.1 billion since February this year.
Source: DefiLlama Perpetual transaction volume on the chain in one week
Sei’s perpetual trading volume continues to hit new highs, opBNB moves towards new highs
The volume of perpetual transactions on the Sei chain reached a new high last week, reaching $984 million. According to the protocol data, its perpetual transaction volume is entirely contributed by the EVM derivatives protocol Vertex Edge, while the Levana Perps transaction volume of the Cosmos ecosystem is $0, indicating that this growth is all due to the parallel EVM introduced after the mainnet V2 update mechanism.
Source: DefiLlama Sei On-chain Perpetual Transaction Volume
The perpetual trading volume of opBNB also increased significantly by 66% last week, reaching US$850 million, and has the opportunity to hit a historical high of US$920 million next week.
Image source: DefiLlama’s top ten on-chain perpetual contract transactions
event summary
Last week’s data showed that overall DeFi activity has reached the annual off-season freezing point. In addition to the steady growth of Sei, opBNB and BTCFi in the public chain sector, both DEXs and Perps Volume have declined to a half-year low; however, it is during this period that outstanding public chain projects deserve special attention from DeFi participants.
Note: The data mentioned in this article are all observations before September 16th, and may differ from real-time data. If you want to view real-time data, you can use DefiLlama.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
