The total value locked (TVL) in DeFi apps has fallen 55% since the start of the year.
On January 1, the segment’s total TVL exceeded $236 billion. At the time of writing, the figure stood at $106 billion.
As of May 9, liquidity locked in dapps exceeded $180 billion. Against the backdrop Terra collapse, the indicator fell sharply, as shown in the chart above.
The decline in TVL is also largely linked to the bear market trend, whose capitalization has fallen by 45.4% since the start of the year.
Some DeFi tokens have fallen by 99% from their peak levels. For example, the almost worthless token of the Geist Finance lending project on Fantom traded above $30 in October, and now its price is around $0.01.
Even among the top-10 most capitalized coins, some have fallen by more than 70% since the start of the year.
For example, the token of the leading decentralized exchange Uniswap fell by 72%, the native asset Curve by 80%.
Earlier, JPMorgan analysts said that the Terra events were a “significant blow to the crypto world”, but had limited impact on the DeFi ecosystem. In their view, the crypto winter would be short-lived thanks to venture-capital inflows into the industry.
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