Skip to content
DefiDraft

DefiDraft

Empowering the Future of Finance: Stay Ahead with our DeFi News

Categories

  • AI
  • Altcoin
  • Bitcoin
  • Blockchain
  • Blogs
  • CHARTS
  • Crypto
  • DeFi News
  • Defipedia
  • Ehtereum
  • Guest Post
  • Metaverse
  • Mining
  • News
  • NFT
  • Press Release
  • Review
  • Sponsored Post
  • Trading
  • Wallets
  • Web3
  • DeFi News
  • Defipedia
  • Review
  • Advertise
  • Home
  • DeFi News
  • 71% DeFi Lending Sector Value Wiped Out in Just 12 Months!
  • DeFi News

71% DeFi Lending Sector Value Wiped Out in Just 12 Months!

Debangshu January 19, 2023 2 min read
71% DeFi Lending Sector Value Wiped Out in Just 12 Months!

71% DeFi Lending Sector Value Wiped Out in Just 12 Months!

DeFi’s effect on the crypto economy has been an enduringly deep one — offering investors non-custodial exchanges, loans, stablecoins, and arbitrage opportunities. The lending sector of DeFi, however, has seen remarkable transformations over the last year. DeFi applications such as Terra’s Anchor Protocol were unsuccessful, with a shocking 71.95% of all the value previously locked in DeFi loan protocols completely evaporating. 

The Story Of Last Year For DeFi

A year ago, it was quite spectacle with $37.41 billion in total value locked (TVL) in decentralized finance lending protocols, and out of that, Aave skyrocketed to the top with its $12.87 billion TVL. Fast forward to Jan. 17, 2023, Aave still tops the chart, with a mere $4.58 billion, while others take a significant hit.

(Defi)-ning the Current Scenario

It’s surprising to see that, despite being in the top five, the total value locked (TVL) across all Defi protocols is currently a relatively modest 10.49 billion dollars. On Jan. 10, 2022, Terra’s Anchor Protocol seemed to have struck gold – with a whopping $8.5 billion in value. Fast forward to today – and the defi protocol is no more. Anchor was the mainstay of the Terra ecosystem, offering UST holders 20% annual returns, compounding daily.

Today, Justlend is the second-largest DeFi lending protocol with an impressive TVL of $3.03 billion. Abracadabra and Cream Finance, two of the top five DeFi lenders last year, have been bumped off the top five leaderboard – and now Venus and Morpho hold their coveted spots. Meanwhile, Cream Finance has taken a bit of a dive: from a high of $2.14 billion to the much more modest $42.94 million – a nosedive that takes them all the way down to the 20th position. 

***

Debangshu

Debangshu is a content writer specializing in the Crypto and DeFi beats. Moreover, he holds 3 years of writing experience in technical niches. He has produced content for a wide range of publications and news outlets, ranging from cryptocurrency-oriented websites to corporate websites.

Post Views: 9
Tags: deFi

Continue Reading

Previous: DeFi Protocol Sushi Plans to lay the Foundations with Focus on DeX
Next: After a Brief Node Outage, Cardano Network Quickly Recovers

Latest Post

Recent Posts

  • Decentralised Applications Gain Momentum: Gaming and DeFi Lead the Charge
  • Sushi Collaborates With HAQQ Network
  • OpenAI CTO’s Twitter Account Hacked as Scammers Use Profile to Promote Crypto Scam
  • Gemini to Buy License to Operate in the UAE
  • Binance CEO Voices His Support For First Digital USD (FDUSD) Stablecoins

Ecosystem

Decentralised Applications Gain Momentum: Gaming and DeFi Lead the Charge Decentralised Applications Gain Momentum: Gaming and DeFi Lead the Charge
2 min read
  • Blockchain
  • DeFi News
  • News

Decentralised Applications Gain Momentum: Gaming and DeFi Lead the Charge

June 5, 2023
Sushi Collaborates With HAQQ Network HAQQ Network Partners with Sushiswap
2 min read
  • DeFi News
  • News

Sushi Collaborates With HAQQ Network

June 3, 2023
OpenAI CTO’s Twitter Account Hacked as Scammers Use Profile to Promote Crypto Scam OpenAI CTO's Twitter Account Hacked as Scammers Use Profile to Promote Crypto Scam
3 min read
  • Crypto
  • News

OpenAI CTO’s Twitter Account Hacked as Scammers Use Profile to Promote Crypto Scam

June 2, 2023
Gemini to Buy License to Operate in the UAE Gemini to to Operate in the UAE
2 min read
  • Crypto
  • News

Gemini to Buy License to Operate in the UAE

June 1, 2023

About

Defidraft is the ultimate source for the latest news and analysis on the world of decentralized finance.

Connect with Us

  • Twitter
  • Instagram
  • Facebook
  • LinkedIn
  • Telegram

Recent Posts

  • Decentralised Applications Gain Momentum: Gaming and DeFi Lead the Charge
  • Sushi Collaborates With HAQQ Network
  • OpenAI CTO’s Twitter Account Hacked as Scammers Use Profile to Promote Crypto Scam
  • Gemini to Buy License to Operate in the UAE

TAGS

Binance blockchain Cardano Crypto cryptocurrency Decentralization decentralized finance deFi DeFi Hack DeFi news DeFi Protocols ethereum future of DeFi News protocol security technology Twitter UAE US

  • News
  • Press Release
  • Sponsored Post
  • Our Partners
  • Contact Us
Copyright © DefiDraft | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$25,671.00-5.79%
  • ethereumEthereum(ETH)$1,808.77-5.08%
  • tetherTether(USDT)$1.00-0.16%
  • binancecoinBNB(BNB)$276.57-9.68%
  • usd-coinUSD Coin(USDC)$1.000.08%
  • rippleXRP(XRP)$0.51-6.23%
  • cardanoCardano(ADA)$0.352068-7.53%
  • dogecoinDogecoin(DOGE)$0.066939-8.22%
  • solanaSolana(SOL)$20.03-9.89%
  • matic-networkPolygon(MATIC)$0.84-7.46%
  • litecoinLitecoin(LTC)$87.53-8.62%
  • polkadotPolkadot(DOT)$5.07-5.10%
  • binance-usdBinance USD(BUSD)$1.00-0.04%
  • avalanche-2Avalanche(AVAX)$13.93-6.38%
  • shiba-inuShiba Inu(SHIB)$0.000008-8.23%
  • crypto-com-chainCronos(CRO)$0.058476-4.68%
  • terra-lunaTerra Luna Classic(LUNC)$0.000091-18.46%