Like the entire market felt the impact of the FTX drop, the Decentralized Finance market was no different. Despite the total market capitalization in DeFi jumping 107% in the year, according to the data aggregator platform DeFiLlama, this represents only 37% compared to the peak recorded in 2022. TVL doesn't even reach 30% of what has been invested, indicating that overall, the cycle is just beginning. 📉🔍 (IMG1)
Regarding the Total Value Locked (TVL - IMG2) segregation, a crucial trust metric in a network, from an investor's perspective (IMG3), we observe a more than 50% decrease in the Binance network over the year , while Arbitrum doubles. Solana, Cardano, Thorchain deserve attention in the non-EVM networks. 📊👀
In terms of traded volume on decentralized exchanges, the Arbitrum network ends the year with a 600% increase in trades, trailing only Ethereum and surpassing BSC, as shown in the graph below. (IMG4)
From the gathered metrics, one can infer that opportunities in DeFi will exhibit greater asymmetry in emerging protocols such as Solana, Cardano, Avalanche, Arbitrum, and Thorchain. 📈💹
Source: Me Defillama Dune Show Less