The total value of funds in DeFi applications (TVL) has decreased by 55% since the beginning of the year.
On January 1, the segment’s total TVL exceeded $236 billion. At the time of writing, the figure is $106 billion.
Data: DeFi Llama.
As early as May 9, the liquidity involved in dapps exceeded $180 billion. Against the backdrop of the collapse of Terra, the indicator fell sharply, which is clearly visible in the chart above.
The decrease in TVL is also largely due to the bearish trend of the market, the capitalization of which has dipped by 45.4% since the beginning of the year.
Data: Coin Market Cap.
Some DeFi tokens are down 99% from their peaks. For example, the token of the Geist Finance landing project based on Fantom has practically depreciated. In October, it was trading above $30, and now its price is in the region of $0.01.
Even among the top 10 most capitalized coins, some have slipped more than 70% since the beginning 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 events around Terra were a “significant blow to the crypto world”, but had a limited impact on the DeFi ecosystem. In their opinion, the crypto winter will be short-lived due to the influx of venture capital into the industry.