While the crypto economy has dropped lower in value against the U.S. dollar, sliding to just under $1.2 trillion, the value of decentralized finance protocols and smart contract tokens has suffered a great deal. Statistics show that the total value locked in defi has dropped 7.96% since May 18, to roughly $104 billion, and the combined value of all the smart contract tokens lost 8.2% during the last 24 hours.
Defi metrics indicate that the world of decentralized finance has been stagnant since the fall of Terra’s UST and LUNA. 24 days ago on May 18, the total value locked in defi was around $113 billion, and today it is 7.96% lower, hovering just above $104 billion. Curve’s, Aave’s, and Lido’s TVL shed between 7.21% and 19.74% during the past month as well, while Uniswap gained 1.92% during the last 30 days. The defi protocol Nord Finance was the month’s biggest loser, as its TVL dropped by more than 71% last month.
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