The total value of cryptocurrencies locked (TVL) in decentralized finance (DeFi) protocols has lost all its gains since Donald Trump was elected US president in November 2024.
data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/live-countdown-us-elections-2024-crypto-industry” rel=”” target=”_self” text=”null” title=”https://cointelegraph.com/news/live-countdown-us-elections-2024-crypto-industry”>Following the US election, DeFi TVL rose to as high as $138 billion on Dec. 17, but had retracted to $92.6 billion by March 10, as noted by analyst Miles Deutscher.
Solana has borne the brunt of criticism data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/solana-s-token-minting-frenzy-loses-steam-as-memecoins-get-torched” rel=”” target=”_self” text=”null” title=”https://cointelegraph.com/news/solana-s-token-minting-frenzy-loses-steam-as-memecoins-get-torched”>as its memecoin popularity fades, but data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/ethereum-needs-blockchain-growth-to-reclaim-all-time-high” rel=”” target=”_self” text=”null” title=”https://cointelegraph.com/news/ethereum-needs-blockchain-growth-to-reclaim-all-time-high”>Ethereum has faced its own challenges in recent cycles, with Ether ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/ethereum-price” rel=”null” target=”null” text=”null” title=”null”>ETH) failing to reach a new all-time high despite Bitcoin ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/bitcoin-price” rel=”null” target=”null” text=”null” title=”null”>BTC) soaring…
