The recent crypto market downturn has not only affected the confidence of individual investors. but also in the Decentralized Finance (DeFi) space.
According to DeFi Llama,Total value locked (TVL) on networks has dropped to its lowest level since June 2021.
Data compiled by DeFi Llama reveals that TVL dropped to $140 billion on May 21, a decline of more than 50% since the start of the year.
Market leader Ethereum, which dominates most of the locked-down values, has also fallen heavily, with TVL valuation halving from $187 billion in January to $92 billion at the time of writing.
Avalanche has seen similar trends, as TVL across all DeFi protocols on the Avalanche blockchain is $6.49 billion. That’s down from an all-time high of $13.7 billion in December last year.
The post DeFi’s TVL sinks to its lowest level since June 2021 appeared first on Bitcoin Addict.