🔎 The Total Value Locked (TVL) in DeFi protocols is at the same level as over 3 years ago (and almost half of what it was at the end of 2021, excluding liquidity staking).
Analyst Circle Patrick Hansen believes this signals the need for a new wave of innovations and applications for the DeFi sector, although he acknowledges that the TVL metric is flawed overall. 📉🔄
