DeFi
DeFi Total Locked Value Drops $10 Billion in April — TradingView News
Total value locked (TVL) on decentralized applications fell by $10 billion in April, according to data aggregator DefiLlama. This represents a 7% decline in 30 days, with the decentralized finance (DeFi) ecosystem closing last month with $138.6 billion, including liquid amounts staked.
Among the 10 largest TVL blockchains, Avalanche saw the largest monthly decline, with 31.5% of funds flowing out of the chain. Solana has also seen a considerable amount of crypto leave its ecosystem, with its TVL falling by almost 30%.
Nonetheless, the more than $6 billion locked in its applications makes Solana the third largest blockchain by total value locked. Meanwhile, despite the 14.2% drop, Ethereum still dominates nearly 69% of DeFi’s TVL.
Despite the outflow of stranded funds seen in the decentralized ecosystem, Base and Bitcoin managed to attract more capital and surpass the $1 billion threshold. The layer 2 blockchain created by crypto exchange Coinbase showed 18.4% growth, led by applications Moonwell, Seamless Protocol and Tarot.
Bitcoin was powered by the new L2 infrastructure, which increased its TVL by almost 39% in one month. Additionally, the Bitcoin DeFi narrative is being pushed by industry players, such as service provider Trust Machines. Mark Hendrickson, a member of the Trust Machines team, shared with Crypto Briefing that Bitcoin has as many features as other blockchains, and that events such as Stacks’ Nakamoto upgrade will strengthen the DeFi narrative.
Blast, another layer 2 blockchain built on Ethereum, posted a slight growth of 4.4% in April and closed the group of winners of the last 30 days.