The DeFi market has taken a huge tumble, with its total value locked (TVL), hitting 20-month lows. This is occurring as the crypto market bleeds in the wake of the FTX collapse.
The DeFi market has seen its total value locked (TVL) drop by over 10% in the last 24 hours. The TVL is now $44.36 billion, a figure which last occurred in March 2021. The 20-month low is another sign that the crypto market is in a rough state following the collapse of FTX.
TVL is down approximately 75% down from its all-time high and about the same figure with respect to year-over-year and year-to-date comparisons. It’s a huge fall for the DeFi space, which has always been a solid pillar in the market.
It’s unlikely that these numbers will hold for too much longer, as the DeFi space is usually quite strong and flourishes. Furthermore, it is considered one of the more innovative and useful use cases of decentralized technology and has attracted…
