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DeFi TVL dropped by over $500 million within two days

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The trending decentralized finance industry has seen a significant amount of locked value dropped within the past two days. The sudden decrease in DeFi TVL can be related to the current dipping state of the cryptocurrency market. The total crypto market cap has also fallen, as many holders have activated their sell-off mode.

DeFi TVL shades by 7 percent

According to data from the DeFi protocol tracker, DeFi Pulse, the highest total value locked in DeFi protocols was attained on September 2, at $9.512 billion. From this point, however, DeFi TVL began to drop, in line with the selloff mode in the crypto market. Today, the figure now sits around $8.834 billion, which represents about a seven percent decrease from the highest point.

So to say, DeFi TVL dropped by about $700 million in the space of two days. Meanwhile, Uniswap, the largest protocol in DeFi by TVL, slightly witnessed a drop at the time. The decentralized exchange (DEX) was had around $1.679 billion in total value locked as of September 2. This value dropped to $1.652 billion three hours ago but has also risen to $1.775 billion at the time of writing.

Protocols with the biggest DeFi TVL loss

In the 24h count on DeFi Pulse, the second and third largest protocols in the industry, Maker, and Aave, are currently seeing an asset change of -6.02 percent and -6.83 percent respectively. The TVL of the largest lending protocol, Maker dropped from $1.599 billion on September 2 to $1.455 billion as of today. Aave’s TVL decrease from $1.56 billion to $1.362 billion.

The biggest loser today among the top ten DeFi protocol is the Balancer DEX, which currently sees a -16.35 percent.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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