Cryptocurrency News

Huobi Echo Chain’s TVL Increases to $2.7 Billion, But Two DApps Represent 86% of Closed Assets

Despite the Huobi Echo Chain attracting an impressive Total Value Lock (TVL) since its launch in December, only two dApps represent 86% of the blockchain’s TVL.

According to crypto data aggregator, CryptoRank, approximately $1.98 billion, or 73% of Heko’s TVL, is locked in the Mdex decentralized exchange.

Amdex is Heko’s rival for Pancake Swap, an automated market maker that provides users with produce farming incentives. in early April, Mdex also launched on BSC To gain access to a wide range of supported tokens on the Heko chain.

Yield aggregator Filda is the second largest DApp on Heco, with Filda representing approximately $400 million of TVL or 13% locked in on Huobi Eco Chain’s combined value. Therefore, all other DApps locked the remaining 16%, or approximately $300 million, of assets in Hekko.

Huobi’s Ethereum Virtual Machine (EVM)-compatible public chain was launched in December 2020 to compete among emerging EVM-interoperable chains.

Despite capital centralization, Heko is now outperforming many of its rivals by TVL, with the performance-focused Solana blockchain’s $362 million TVL totaling $362 million. Solana Project, and of avalanches. $225 million are closed as of marco investigator.

According to heko chain statistics, the number of unique addresses interacting with the chain has increased by 390% over the past three months to a record 12 million. Heiko also reports a daily transaction count of 1.67 million.

In April, Heiko teased that it had received applications from 213 dApps that were hoping to launch on the blockchain.

Heko is also far from challenging its major rival, Binance Smart Chain, which TVL boasts of $20.6 billion According to BSc Project – More than seven and a half times that of Heko Chen. The top BSC project is Pancake Swap with a lock of $7.8 billion, or 38% of BSC’s combined TVLL.

Binance also hosts Smart Chain. 1 million transactions per day as per bscscan.