In the trending decentralized Finance industry, the blocked value has dropped significantly over the past two days. The sudden decline in DeFi TVL may be related to the current downturn in the cryptocurrency market.
DeFi TVL rolls back 7 percent
According to the DeFi Pulse Protocol tracker, the highest total value of blocked protocols was reached on September 2, and amounted to $ 9.512 billion. However, from this point on, DeFi TVL began to fall in accordance with the sell-off mode in the cryptocurrency market. Today, this figure is about $ 8.834 billion, which is about seven percent less than the highest value
Thus, the cost of TVL fell by about $ 700 million in two days. Meanwhile, Uniswap, TVL’s largest DeFi Protocol, also fell slightly. As of September 2, the decentralized exchange (DEX) had a blocked total value of about $ 1.679 billion. This value fell to $1.652 billion. three hours ago, but also rose to $ 1.775 billion at the time of writing.
The biggest loser today among the top ten decentralized Finance protocols is Balancer DEX, which currently shows -16.35%.
