The market size of decentralized finance market size declined to less than 50 billion U.S. dollars come April 2023. This is a significant change from 2021,when the size of the decentralized finance market reached heights it had not reached before. The DeFi market was especially impacted by the crash for Terra (LUNA) and its stablecoin TerraUSD (UST) in May 2022 - with uncertainty still being present in June 2022 when coins such USDD lost their peg to the U.S> dollar. On top of that, a declining crypto market also impact DeFi. As Ethereum is the main blockchain powering transactions for decentralized finance, price developments of this particular cryptocurrency can have a big impact.
TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to August 27, 2024
(in billion U.S. dollars)
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Website (Defi Llama). (August 27, 2024). TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to August 27, 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1272181/defi-tvl-in-multiple-blockchains/
Website (Defi Llama). "TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to August 27, 2024 (in billion U.S. dollars)." Chart. August 27, 2024. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1272181/defi-tvl-in-multiple-blockchains/
Website (Defi Llama). (2024). TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to August 27, 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1272181/defi-tvl-in-multiple-blockchains/
Website (Defi Llama). "Tvl (Total Value Locked) across Multiple Decentralized Finance (Defi) Blockchains from April 2018 to August 27, 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 27 Aug 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1272181/defi-tvl-in-multiple-blockchains/
Website (Defi Llama), TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to August 27, 2024 (in billion U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1272181/defi-tvl-in-multiple-blockchains/ (last visited September 20, 2024)
TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to August 27, 2024 (in billion U.S. dollars) [Graph], Website (Defi Llama), August 27, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1272181/defi-tvl-in-multiple-blockchains/