According to crypto data platform DefiLlama, the entire DeFi market trading volume has hit its lowest since Jan.
On the BTC side, the uninterrupted decline, which started at $ 31,800, continues to affect many data. The DeFi industry was particularly affected by this situation. DefiLlama, which stands out with its data sharing for the crypto industry, announced that the DeFi market has been at the bottom of the last 7 months.
Huge drop in total locked value
Total locked value (TVL), which measures the amount of capital held across all DeFi protocols, fell from $45.3 billion in July to $42.9 billion in July as the industry failed to deflect against falling asset prices. During this period, Ethereum (ETH) fell from $ 1,920 to $ 1,850, while Bitcoin (BTC) could not break the $ 31,500 resistance and wicked below $ 29,000.
DeFi, one of the areas most affected by the depreciation of BTC, has come to $ 42.9 billion, not only in its own field, but also in the sector. On this side, the ongoing data with a downward trend will directly affect DeFi-based projects and companies in the coming days. In this case, naturally, the crypto industry can be negatively affected.
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