The total amount of accumulated funds (TVL) in the decentralized finance sector (DeFi) has fallen to $70.72 billion amid the market downturn, which is comparable to March 2021 levels.
Relative to the early December 2021 peak level of around $250 billion, the indicator has fallen by 71%.
The first place in the DeFi Llama ranking is occupied by the landing service MakerDAO, with which the decentralized stablecoin DAI is associated.
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Among the top 5 services, Aave, Curve and Lido have suffered the biggest drops in TVL. Celsius and Three Arrows Capital have actively interacted with the first two platforms, which have faced a liquidity crisis and have had a negative impact on the entire market.
The sharp drop in Lido is largely due to the collapse of Terra, as the service offered liquid staking of LUNA, as well as problems around stETH.