{"id":27523,"date":"2022-11-14T16:27:15","date_gmt":"2022-11-14T10:57:15","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=27523"},"modified":"2022-11-14T16:42:38","modified_gmt":"2022-11-14T11:12:38","slug":"defi-tvl-tanks-as-crypto-market-woes-worsen","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/defi-tvl-tanks-as-crypto-market-woes-worsen\/","title":{"rendered":"DeFi TVL tanks as crypto market woes worsen"},"content":{"rendered":"

Total Value Locked (TVL), an important metric that tracks the performance of Decentralized Finance (DeFi) platforms, has tanked. The TVL of various DeFi platforms fell to $42.61 billion this Monday, according to DeFi tracking platform DefiLlam<\/a>a. Over $10 billion was lost in a span of three days. Down from $55 billion at the start of last week, the TVL score is currently at a 19-month low.<\/p>\n

The drop in TVL is not due to large-scale withdrawals. Instead, it has to do with a drop in the price of DeFi tokens. Slumping by over 60% in the last seven days, the Solana ecosystem was the worst hit. Its TVL fell from $1 billion level to $325 million at the press time.<\/p>\n

For a few weeks, the TVL showed some stability and even a little recovery with the price of ETH approaching $1,600. However, following the FTX saga, all the gains have reversed. The second-largest valued blockchain protocol, Ethereum, has now lost close to $7 billion in TVL. It is currently at $25 billion, putting it close to its two-year low.<\/p>\n

\"DeFi
source: DefiLlama<\/figcaption><\/figure>\n

The reports have emerged at a time when investors have had very little to look forward to. The crypto market and global financial market are both confronted by the perils of a centralized financial system. Additionally, the failure of centralized crypto platforms is one of the main causes of the crypto market\u2019s poor performance.<\/p>\n

Other leading DeFi protocols, including AVAX, LINK, and AAVE, have also seen a double-digit decline. However, Polygon witnessed a small drop of 4% in TVL in the last seven days, declining from $1.36 billion to $1.11 billion level. Meanwhile, Loopring (LRC) TVL stayed stable.<\/p>\n

With the price of crypto assets dropping, fears becoming frequent, and the markets facing more withdrawal requests, the TVL of top smart contract protocols is likely to remain under pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"

Total Value Locked (TVL), an important metric that tracks the performance of Decentralized Finance (DeFi) platforms, has tanked. The TVL of various DeFi platforms fell to $42.61 billion this Monday, according to DeFi tracking platform DefiLlama. Over $10 billion was lost in a span of three days. Down from $55 billion at the start of […]<\/p>\n","protected":false},"author":67,"featured_media":27526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-27523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-11-13T20:17:51+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Deepan Datta\",\"description\":\"A keen observer of the crypto market and believes crypto\/blockchain will bring the next phase of the industrial revolution and build an inclusive society.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/deepan\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea29018d03e4615947c5df3ce7b4030b?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=27523"}],"version-history":[{"count":1,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27523\/revisions"}],"predecessor-version":[{"id":27528,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/27523\/revisions\/27528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/27526"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=27523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=27523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=27523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}