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Total Value Locked in DeFi Drops Below $50 Billion Range

The Total Value Locked (TVL) in the decentralized finance (DeFi) market has dropped below $50 billion after hitting a high of $53.63 billion on April 14th, 2023. The entire DeFi ecosystem, including the top 18 protocols, has experienced losses in the past week.

Lido, which is the largest DeFi protocol by TVL, has also experienced an 8.25% decline in the past week. The crypto asset market has been volatile in the past seven days, resulting in a drop in the TVL of DeFi to $48.78 billion on April 23rd, 2023.


Only two of the top 20 DeFi protocols have experienced TVL gains in the past week, with Venus and Juststables leading the pack. The worst performing DeFi protocol in terms of TVL was Aura, which experienced an 18.29% decline, while Aave lost 14.09%. Ethereum-based DeFi protocols accounted for more than 58% of the total value in DeFi, with $28.68 billion locked across 752 protocols.

DeFi Smart Contract Token Economy Shows Increase

The DeFi smart contract token economy has increased by 2% in the past 24 hours to reach $369 billion, despite the drop in DeFi TVL. Nine out of the top ten smart contract tokens experienced weekly declines against the U.S. dollar, while Tron saw a 1.1% increase over the past week. Ethereum had the largest market cap at $225.99 billion, followed by BNB at $52.23 billion, and Cardano at $13.74 billion.

Rises and Falls in DeFi Protocols

In the past seven days, several DeFi protocols experienced significant gains, including Spoon Exchange, Flux Protocol, Shade Protocol, Toreus, and Dove Swap. On the other hand, Atlas Aggregator, Sohei, Arbiten, Multialt, and Bodh Finance experienced significant losses in the same period. Some DeFi protocols also experienced significant TVL losses in the past 30 days, including Bourbon DAO, Soluna, and Angel Protocol, while others saw increased gains such as Bonsai Strike, Lodestar Finance, and Algomint.