According to data compiled by DefiLlama, the funds stored in decentralized finance (DeFi) protocols have decreased to the lowest level since February 2021. Specifically, the total locked value (TVL) has fallen to $37.5 billion, below the post-bull market low of $38 billion set in December. In just the past month, some protocols have lost more than half of their locked value. The TVL of Velodrome, a decentralized exchange (DEX) based on Optimism, has dropped by 58%. Balancer, one of the largest liquidity protocols, has seen its TVL drop by 35% to $641 million.
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Total Value Locked in DeFi Protocols Has Dropped to Lowest Level Since February 2021
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