Low Not Seen Since February 2021, TVL in DeFi Slides Under $40 Billion
The total value locked (TVL) in decentralized finance (DeFi) has fallen below the $40 billion mark for the first time since the first week of February 2021. Over 4% in price during the last 24 hours.
Locked value in DeFi drops below $40 billion
The locked value in DeFi protocols has fallen below the $40 billion zone for the first time in 675 days or since the first week of February 2021. mark in February 2020 after climbing from the $1 billion zone a year earlier.
With a total of $39.53 billion closed in DeFi today, statistics show that MakerDAO commands the largest TVL at the end of this week and dominates at 14.91%. The TVL of MakerDAO is around $5.89B and its value has declined by 6.88% during the last week. In terms of value-locked data, MakerDAO’s TVL is followed by Lido, Curve, Aave, and Uniswap, respectively.
Most of the value locked today is held on Ethereum as $23.06 billion in value is locked in ETH-based DeFi apps, representing 58.33% of the total locked. Ethereum’s TVL is followed by Tron, Binance Smart Chain, Arbitrum, Polygon, Avalanche, Optimism, Phantom, Cronos, and Solana.
The entire lot of smart contract protocol tokens lost 7.5% in value against the US Dollar today, amounting to a total of $240 billion. Among the top ten smart contract protocol tokens, bnb The biggest weekly decline was witnessed as it declined by 17.6% during the last seven days. Ethereum Classic (e.t.c) lost 16.3% during the past week and Tron’s lowest loss of 2.2% in the last seven days.
What do you think about the state of decentralized finance protocols today and TVL plunging in recent times not seen since February 2021? Tell us what you think about this topic in the comments section below.
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