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Terra leads losses, with DeFi TVL at its lowest since October

According to DefiLlama data, the total value locked (TVL) in DeFi protocols has declined from US$217.82 billion to US$179.5 billion in the last 30 days, reaching its lowest point since October 2021.

Terra’s Anchor Protocol, which has lost more than 20% of its TVL in the last week, had a big influence.

Over the weekend, Terra’s native cryptocurrency, LUNA, lost up to 25% of its value.

Terra’s TVL has dropped 20.54 percent in the last seven days after its stablecoin UST lost its peg during the weekend market selloff.

Ethereum still holds a 54.82 percent share of DeFi TVL, but its market cap has dropped to US$98.39 billion, its lowest level since August, according to DefiLlama data.

Both Binance’s BNB chain and Tron have gained over 10% in the last seven days.

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