Statistics show the total value secured by blockchain oracle protocols has decreased by 61.74% since mid-February.
Maker commands $7.66 billion, while Winklink secures $4.42 billion and Pyth secures around $584.03 million. The fifth-largest oracle according to defillama.com metrics is Band, with around 1.55% of the total $25.61 billion secured, or around $396 million. While $25 billion is quite a bit of funds secured by decentralized blockchain oracles, it’s 61.
Chainlink is down 85% since the ATH recorded on May 10, 2021, and makerdao is down 84% from its ATH on May 3, 2021. Winklink has shed 96% since April 5, 2021, and band protocol is down 94.7% since the coin’s ATH recorded over a year ago on April 15, 2021. Despite the loss in value, native tokens are more valuable than they were at inception.
LINK, for instance, is up 5,053.1% higher during the last five years against the U.S. dollar since November 29, 2017. BAND is up 496% since its inception, WIN is up 168.4% during the last two years, and MAKER has gained 449.1% in two years as well. Moreover, the total value secured by oracles is a whole lot larger than it was three years ago. Blockchain oracle proponents believe the technology will be able to disrupt a number of industries as they grow, as legacy oracles today provide data that is questionable at best.
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