Since March 29, 2022, the state of decentralized finance (DeFi) in terms of total value locked (TVL), has never seen such low volume. You have to go back to this period to see a situation where the TVL is below 55 billion dollars. Indeed, the current TVL is $54.95 billion, down 14.09% over the past 30 days. At the moment, Makerdao is the dominant protocol with 13.27%.
Record TVL drop in DeFi since March 2022
For more than a month, the total value locked (TVL) in DeFi has been worrying. She just passed below $55 billion. To see such a score, you have to go back to March 2022, a little more than 6 months back. The DeFi situation is out of step with that of smart contract coins. The parts of smart contracts are experiencing a valuation of nearly 0.6% against the US dollar. It is moreover this valuation that allows the industry to assess itself at the level $296 billion.
When all the TVL in DeFi is aggregated at the time of writing this article, it is $54.95 billion. Despite the tumultuous nature of the DeFi market, Ethereum continues to show 57% TVL for a total amount of 31.6 billion dollars. The other protocols that complete the podium are: Tron and Binance Smart Chain with respectively $5.41 billion and $5.38 billion.
TVL has dropped 15% in the past 30 days
The fall in total value locked in the DeFi market spares almost no project. While TVL has fallen by 14.09% over the past 30 days, Tron is down 9.72%. During the same period, Binance SmartChain experienced a decline of approximately 2.54%. Despite a fall of nearly 6.45%, Makerdao is the dominant protocol with a total value of $7.29 billion, or 13.27%. Its Dauphin Lido shows a greater loss of 10.38%, since the protocol only blocked 5.97 dollars.
It’s not all bad news in the DeFi industry, as some projects have taken the opportunity to climb. This is the case of the layer two protocol Arbitration which jumped 1.52%. In addition, some smart contracts are also experiencing a valuation in the last week. By way of illustration, neblio (NEBL), algorand (ALGO) and Counterparty (XCP) recorded an increase of more than 21%. The main smart contract tokens for their part are struggling to take off, they are posting double-digit losses. In one week, Ergo (ERG) and potron (XRP) lost 35% and 21% of their values respectively.
Conclusion
Over the last 30 days, the TVL in DeFi has experienced a significant drop. The most important projects accumulate losses of more than double digits. In this tumultuous context, only a few small projects were able to hold their own.
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