The recent crypto market downturn has not only hurt retail investor sentiment but also the decentralized finance space.
According to the popular resource and aggregator DeFi Llama, the вкупната вредност е заклучена across various chains has declined to levels last seen in June 2021.
- Bitcoin, for one, has паднал deep into the “Extreme Fear” zone as it hit its lowest reading in more than two years on the BTC Fear and Greed Index this week.
- DeFi markets weren’t immune to the widespread negative sentiment either.
- Data compiled by DeFi Llama revealed that the TVL dropped to $140 billion on May 21, down by more than 50% since the beginning of the year.
- The market leader, Ethereum, which accommodates a majority of the locked value, also slumped hard. It shed half of its value from $187 billion in January to $92 billion at the time of writing.
- Avalanche also noted a similar trend as TVL across all the DeFi protocols on its blockchain currently stood at $6.49 billion from an all-time high of $13.7 billion recorded in December last year.
- Solana’s infrastructure had come under intense criticism for its multiple outages. The mitigation measures that the devs објави are yet to help the layer 1 blockchain protocol’s TVL emerge out of the yearly lows, which hovered near $4.5 billion.
- In addition to the contagion effect, it is also important to note that the DeFi sector became a breeding ground for fraudulent activities this year.
- Web3 and blockchain security firm, CertiK had recently откри that more than $1.6 billion in crypto was stolen from DeFi users, far exceeding the total amount stolen in 2020 and 2021 combined.
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Source: https://cryptopotato.com/crypto-bloodbath-impact-defi-tvl-sinks-to-lowest-levels-since-june-2021/