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🧵 $30B in TVL wiped out by the $LUNA and $UST collapse. Total #DeFi TVL slashed in half over the last month.
What does the future hold for DeFi on the major #Layer1 chains and protocols? My thoughts in 10 tweets. 1/10
What does the future hold for DeFi on the major #Layer1 chains and protocols? My thoughts in 10 tweets. 1/10
#DeFi exploded from $19B TVL at the start of 2021 to $280B by the end of 2022, holding steady until April of this year.
It now stands at $128B with the majority of that over 50% drop coming in the last month as investors rush for the exits. 2/10
It now stands at $128B with the majority of that over 50% drop coming in the last month as investors rush for the exits. 2/10
Why? A negative global macro outlook with inflation and rising interest rates leading to sell off in traditional markets.
The knock on effect on $BTC compounded by the shock from the $LUNA and $UST fallout has nervous investors going risk off. 3/10
The knock on effect on $BTC compounded by the shock from the $LUNA and $UST fallout has nervous investors going risk off. 3/10
