The total value locked in DeFi has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14.
The total value locked in decentralized finance has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi protocol by TVL size, Lido, losing 8.25% over the past week.
Although the total value in defi has decreased this weekend, the top smart contract token economy hasover the past 24 hours to reach $369 billion. However, nine out of the top ten smart contract tokens have experienced weekly declines in value against the U.S. dollar. Tron, on the other hand, has risen by 1.1% over the last week. Out of the $369 billion in value, Ethereum’s market cap accounts for $225.
What do you think the future holds for the defi market in light of recent volatility and TVL losses? Share your thoughts about this subject in the comments section below.Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications.
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