HomeCrypto NewsDeFiTVL Defi down 67% in Q2

TVL Defi down 67% in Q2

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According to data from DefiLlama, total value locked (TVL) in decentralized finance (DeFi) decreased by 66,9% in the second quarter of this year.

DeFi sector records TVL 220 billion US dollars at the beginning of the second quarter, but the TVL fell to 72,87 billion US dollars at the end of June.

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TVL is at 85,29 billion US dollars on Monday morning.

CoinGecko indicates value Market capitalization of DeFi also suffered a severe decline in the second quarter, down from US$142 million down to US$36 million for a period of three months.

“The second quarter of this year is certainly dramatic,” says Justin d'Anethan, sales manager at Amber Group added that investors are afraid of a falling token price, need to cover margin calls, or just want cash.

“Ironically, I think the chaos we saw last month did Brands the DeFi space, instead of weakening it,” d'Anethan said. “While centralized entities are affected, most dApps and protocols work as intended, remain functional, and do not need bailouts.”

Major cryptocurrencies and traditional markets are facing concerns about rising inflation, a possible recession, uncertainty due to the war in Ukraine, and a growing list of crypto companies about to go bankrupt.

Igneus Terrenus, head of communications of cryptocurrency exchange Bybit said: “The contraction of DeFi TVL can largely be attributed to the falling ETH price. Recession looks much less severe when measured in ETH.”

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