The market size of decentralized finance market size declined to less than 50 billion U.S. dollars come April 2023. This is a significant change from 2021,when the size of the decentralized finance market reached heights it had not reached before. The DeFi market was especially impacted by the crash for Terra (LUNA) and its stablecoin TerraUSD (UST) in May 2022 - with uncertainty still being present in June 2022 when coins such USDD lost their peg to the U.S> dollar. On top of that, a declining crypto market also impact DeFi. As Ethereum is the main blockchain powering transactions for decentralized finance, price developments of this particular cryptocurrency can have a big impact.
TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to January 9, 2025
(in billion U.S. dollars)
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DefiLlama. (January 9, 2025). TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to January 9, 2025 (in billion U.S. dollars) [Graph]. In Statista. Retrieved January 22, 2025, from https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/?__sso_cookie_checker=failed
DefiLlama. "TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to January 9, 2025 (in billion U.S. dollars)." Chart. January 9, 2025. Statista. Accessed January 22, 2025. https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/?__sso_cookie_checker=failed
DefiLlama. (2025). TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to January 9, 2025 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: January 22, 2025. https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/?__sso_cookie_checker=failed
DefiLlama. "Tvl (Total Value Locked) across Multiple Decentralized Finance (Defi) Blockchains from April 2018 to January 9, 2025 (in Billion U.S. Dollars)." Statista, Statista Inc., 9 Jan 2025, https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/?__sso_cookie_checker=failed
DefiLlama, TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to January 9, 2025 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/?__sso_cookie_checker=failed (last visited January 22, 2025)
TVL (total value locked) across multiple Decentralized Finance (DeFi) blockchains from April 2018 to January 9, 2025 (in billion U.S. dollars) [Graph], DefiLlama, January 9, 2025. [Online]. Available: https://www.statista.com/statistics/1272181/defi-tvl-in-multiple-blockchains/?__sso_cookie_checker=failed
