{"id":62447,"date":"2022-06-03T19:53:18","date_gmt":"2022-06-03T16:53:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62447"},"modified":"2025-09-05T18:07:28","modified_gmt":"2025-09-05T15:07:28","slug":"in-may-tvl-in-the-defi-ecosystem-fell-by-43","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/in-may-tvl-in-the-defi-ecosystem-fell-by-43\/","title":{"rendered":"In May, TVL in the DeFi ecosystem fell by 43%."},"content":{"rendered":"

In May, Bitcoin and Ethereum fell by 15.6% and 28.8% respectively, while the total value of assets in the DeFi segment declined by 43%. According to ForkLog report<\/a>.<\/p>\n

Collapse<\/a> of the Terra ecosystem triggered a prolonged market correction. On May 12, Bitcoin reached $26,700 \u2014 the lowest since December 2020.<\/p>\n

The Ethereum price tested the $3,000 level, but could not settle above it. On May 27, the cryptocurrency reached a local minimum near $1,700. The last time the asset was at this level was in July 2021.<\/p>\n

\n
\"In
BTC\/USDT daily chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n
\"In
ETH\/USDT daily chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<\/figure>\n

TVL in smart contracts of decentralized applications declined by 43%, to $117.48 billion.<\/p>\n

\"In
Dynamics of the value involved in the DeFi sector. Data: DeFi Llama<\/a>.<\/figcaption><\/figure>\n

Terra, which ranked second by TVL, yielded to BNB Chain ($9.13 billion on June 1) \u2014 its own TVL collapsed from $23.62 billion to $0.05 billion.<\/p>\n

TVL in Ethereum declined from April’s $108.83 to $71.98 bn. In third place came the Tron-based application ecosystem, whose TVL over the last month grew by 48%<\/a> ($6.34 bn).<\/p>\n

\"In
Top ecosystems by the value of blocked funds, $bn. Data: DeFi Llama<\/a>.<\/figcaption><\/figure>\n

Against the market correction and Terra collapse, all top-20 DeFi-sector tokens by market capitalization were in the red.<\/p>\n

The worst performance was shown by the token of the yEarn Finance project (YFI), losing more than 53%. In second place was the native token of the cross-chain protocol THORChain (RUNE). Its quotes fell by 52%.<\/p>\n

\"In
Top-20 DeFi coins by market capitalization. Data: Messari<\/a> (as of 01.06.2022).<\/figcaption><\/figure>\n

Among Ethereum-based projects, leadership by TVL shifted to the lending platform Aave ($11.61 billion). In second place is MakerDAO ($9.89 billion).<\/p>\n

\"In
Top-5 Ethereum-based DeFi projects by TVL, in $bn. Data: DeFi Llama<\/a> (as of 01.06.2022).<\/figcaption><\/figure>\n

Publicly traded crypto-related companies reacted to the negative backdrop in the same way \u2014 by falling. In May, Galaxy Digital and Coinbase shares fell by 42.38% and 30.93%, respectively.<\/p>\n

Riot Blockchain, Hut 8 and Marathon Digital fell by 28.74%, 28.37% and 34.25%.<\/p>\n

\"In
Data: ForkLog<\/a>.<\/figcaption><\/figure>\n

Interest in non-fungible tokens in May again waned. The flagship NFT marketplace OpenSea reflected the segment’s trend \u2014 trading volume on it reached $2.48 billion, the lowest since November 2021. The decline was also visible in Google searches for \u201cNFT.\u201d<\/p>\n

Sponsor of the column \u201cBitcoin Industry in Numbers\u201d \u2014 the global blockchain ecosystem<\/strong> Binance<\/strong><\/a>.<\/strong><\/p>\n

Recall that JPMorgan analysts suggested<\/a> that the crypto-winter would be short thanks to venture-capital inflows into the industry.<\/p>\n

Subscribe to ForkLog’s channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

In May, Bitcoin and Ethereum fell by 15.6% and 28.8% respectively, while the total value of assets in the DeFi segment declined by 43%. This is stated in the ForkLog report.<\/p>\n","protected":false},"author":1,"featured_media":62448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1093,46],"class_list":["post-62447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-defi","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62447"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62447\/revisions"}],"predecessor-version":[{"id":62449,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62447\/revisions\/62449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62448"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}