DeFi TVL drops to lowest level since February 2024

The total value locked (TVL) in decentralized finance (DeFi) protocols temporarily fell below $70 billion on June 29, marking its lowest point since February 2024, ChainCatcher reported, citing data from DeFiLlama. This represents a 60% decrease from the approximately $171 billion recorded in October of last year. The TVL is currently around $70.129 billion. Additionally, according to DeFiLlama, the total market capitalization of stablecoins has decreased by 0.97% over the past week, while spot trading volume on decentralized exchanges (DEXs) has increased by 8.21%.