Lending Applications Become DeFi's Hardest Hit Area for TVL Loss

The dramatic volatility in the crypto asset market once again confirms the saying among insiders that 'one day in crypto equals one year in the real world.' Due to consecutive days of market decline, the total market capitalization of crypto assets has continuously dropped from its peak of $3 trillion on May 11th. As of May 25th, this figure has shrunk to $1.7 trillion, representing a decline of 43.33% in half a month. The DeFi market has also been severely hit in this round of major decline, with the total value locked (TVL) across major public chains falling from a monthly high of $130.337 billion to $80.034 billion, a decline of 38.59% in half a month.