The total value locked (TVL) in DeFi apps has declined by 55 % since the beginning of the year.
As of January 1, the total TVL of the segment exceeded $236 billion, while on May 9, the liquidity involved in dApps exceeded $180 billion.
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The collapse of the Terra ecosystem resulted in the indicator falling significantly.
The fall of the TVL is also largely due to the downtrend in the crypto market in general, whose capitalization has fallen by 45.4% since the beginning of the year.
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Some DeFi tokens have lost 99% of their value from their all-time highs. For example, the native token of the Fantom-based landing project Geist Finance has virtually lost all of its value. In October, it was trading above $30, however, its current value is just $0.01.
Even some top 10 coins have fallen by almost 70% since the beginning of the year.