The decentralized finance (DeFi) ecosystem is going through tough times with the ongoing bear market. Total locked value (TVL) fell to its lowest level in two and a half years. TVL dropped to $42.45 billion, according to DeFiLlama data.
DeFi TVL value.When we look at the data, we see that decentralized finance has been losing blood since April 2022. According to DeFiLlama data, the metric in question is currently at its lowest level in the last 2 and a half years. The bankruptcy of the central exchange FTX at the end of last year caused expectations in the sector. However, this interest did not last.
DeFi TVL value rose to $64.5 billion in mid-April during the year. However, the upward move was short-lived. While the crypto market fell by only 18% in the April-August period, the DeFi sector lost more.
Decentralized finance collateral reached $212 billion in late 2021, accompanied by a bull market. However, the decline since then has been 80%. Analysts do not expect a clear rise until the trust issue of decentralized platforms is resolved.
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