The Total Value Locked (TVL), in decentralized finance (defi), has just dropped below $40 billion for the first time since the beginning of February 2021. On December 17, 2022, the aggregate value of TVL in DeFi is around $39.53 trillion after a decrease of more than 4 percent in the past 24 hours.
Value Locked in Defi Dips Below $40 Billion
The amount of capital tied up in decentralized finance protocols has dropped under the $40 billion mark for the first time in 675 days, or the initial week of February 2021. It was around this time that TVL in DeFi first reached $40 billion. After soaring from the $1 billion zone one year back, the total value locked has now decreased to $40 billion. February 2020.
Statistics show that the present value locked in DeFi protocols is $39.53 billion, with Makerdao leading the pack on this Saturday and dominating by 14.91%. Makerdao’s TVL is valued at $5.89 billion and has experienced a 6.88% decrease in value over the past week. In terms of value locked data, Makerdao’s TVL is closely followed by Lido, Curve, Aave, and Uniswap, respectively.
The current batch of smart contracts protocol tokens lost 7.5% of their value against the US Dollar, which amounts to $240 billion. BNB saw the biggest weekly drop in smart contract tokens with a 17.6% reduction over the previous seven days. Ethereum Classic (ETC) endured a 16.3% decline over the past week and Tron witnessed a 2.2% decrease in sales, which was lower than the previous week.
What are your thoughts on the current decentralized finance protocols and TVL dropping to levels not seen since February 2021? Please let us know what you think in the comments section below.