The DeFi sector is going through hard times

The current decline represents a decline of nearly 3 times from the peak of $175 billion recorded at the peak of the bull market in November 2021.

Now that the price of most cryptocurrencies, including ETH, has fallen more than 60% from all-time highs, TVL has also collapsed.

However, other factors have also contributed to the problems of the DeFi sector.

Almost all performance indicators show a downward trend - this may be due to both a drop in interest in decentralized finance and the reluctance of users to trust funds to sites that are often hacked.

At the end of 2021 - beginning of 2022, the daily volume of transactions on DeFi platforms averaged about $4 billion.

Over the past few months, it has sunk to $1.5 billion.