DeFi TVL Slumps to 20-Month Low As Crypto Market Bleeds

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors



The total value locked (TVL) for the DeFi market has dropped significantly, reaching a 20-month low. This is coming as the cryptocurrency market bleeds following the FTX collapse.

Over the past 24 hours, the DeFi market’s total value locked (TVL) has decreased by over 10%. The TVL now stands at $44.36 billion, which was last reached in March 2021. The 20-month low is another indication that the crypto market is struggling as a result of FTX’s impending demise.

Source: DeFiLlama

In terms of year-over-year and year-to-date comparisons, TVL has decreased by almost 75% from its all-time high. The DeFi market, which has long been a strong foundation in the industry, has suffered a severe setback.

These levels are unlikely to persist for very long because the DeFi market typically grows and is extremely robust. Additionally, it is regarded as one of the more creative and practical applications of decentralized technology and has caught the interest of numerous illustrious organizations. Despite this, each ecosystem is failing, with Ethereum, Binance Smart Chain, and many others suffering severe losses.

With a TVL of $25.36 billion, Ethereum’s value has decreased by 75% year to date and by the same amount from its peak. With a 14.85% market share, MakerDAO presently leads the ETH liquid staking market, followed by Lido. BSC’s TVL currently stands at $5.13 billion and has been largely unchanged for a few months.

Tron’s DeFi Metrics an Exception from the Norm

One of the exceptions is Tron, whose value only decreased somewhat in comparison. Its TVL currently stands at $4.57 billion, an increase of 7.94% over the previous day. This amount is not far from an all-time high of about $7 billion.

In Q3, TRON experienced a 480% growth in USD holders and a 71% increase in TVL holders. This was before the FTX event, but Tron doesn’t seem to be as negatively impacted now. According to DappRadar, DeFi wallets also experienced significant growth in October, with the number of active wallets exceeding 500,000 during the month.

 

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.