Data shows that a series of failures of centralized cryptocurrency exchanges and services over the past year have not stopped the continued outflow of funds from DeFi. According to DefiLlama, the total value locked in cross-chain DeFi protocols is less than $38 billion, lower than the industry peak of $178 billion in November 2021. Of this, nearly $21.8 billion is currently stored in the Ethereum protocol. The overall figure is even lower than the total value locked (TVL) in DeFi shortly after the collapse of the centralized exchange FTX in November 2022, which was about $40 billion, causing the number of assets locked in such protocols to fall to the lowest point in two years. Centralized cryptocurrency lending institutions such as BlockFi, Genesis, and Gemini Earn have also collapsed in the spread.
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The value locked in the cross-chain DeFi agreement is less than 38 billion US dollars, which is lower than the 178 billion US dollars at the peak of the industry in November 2021
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