While the crypto economy has dropped lower in value against the U.S. dollar, sliding to just under $1.2 trillion, the value of decentralized finance (defi) protocols and smart contract tokens has suffered a great deal. Statistics show that the total value locked in defi has dropped 7.96% since May 18, to roughly $104 billion, and the combined value of all the smart contract tokens lost 8.2% during the last 24 hours.
Bear Market Shreds Defi — TVL Down Over 7% This Month, Smart Contracts Coins Lose Significant Value Over the Last Week
Defi metrics indicate that the world of decentralized finance has been stagnant since the fall of Terra’s UST and LUNA. 24 days ago on May 18, the total value locked (TVL) in defi was around $113 billion, and today it is 7.96% lower, hovering just above $104 billion.
30-day metrics indicate that out of the top five defi protocols in terms of TVL size, four application TVL metrics have dropped significantly. Makerdao commands the top position in defi in...
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