The total value locked (TVL) in decentralized finance (DeFi) protocols has dropped from US$217.82 billion to US$179.5 billion in the past 30 days, reaching its lowest point since October 2021, according to DefiLlama data.
See related article: DeFi wizard Cronje’s departure sends TVL sinking
- Terra’s Anchor Protocol played a significant role by dropping more than 20% of its TVL over the last week.
- Terra’s native cryptocurrency LUNA lost up to 25% of its value over the weekend.
- Terra’s TVL declined by 20.54% over the past seven days, as its stablecoin UST briefly lost its peg during the weekend’s market selloff.
- Ethereum still dominates DeFi TVL with a 54.82% share but has dipped to US$98.39 billion, its lowest mark since August, DefiLlama data shows.
- Binance’s BNB chain and Tron are both up nearly 10% over the past seven days.
See related article: Fantom overtakes Binance Smart Chain in DeFi TVL