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 September 25, 2024
(in billion U.S. dollars)
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DefiLlama. (September 25, 2024). TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to September 25, 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/
DefiLlama. "TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to September 25, 2024 (in billion U.S. dollars)." Chart. September 25, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/
DefiLlama. (2024). TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to September 25, 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/
DefiLlama. "Tvl (Total Value Locked) across Multiple Decentralized Finance (Defi) Blockchains from April 2018 to September 25, 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Sep 2024, https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/
DefiLlama, TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to September 25, 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/ (last visited October 31, 2024)
TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to September 25, 2024 (in billion U.S. dollars) [Graph], DefiLlama, September 25, 2024. [Online]. Available: https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/