DeFi Total Value Locked Falls 14% to $148 Billion After KelpDAO Bridge Exploit

DefiLlama data showed DeFi total value locked declined from about $172 billion in mid-April to roughly $148 billion, with lending shrinking to $40 billion after five weeks of continued outflows.

Summary

DefiLlama data showed decentralized finance total value locked fell about 14% to roughly $148 billion five weeks after the KelpDAO bridge attack, down from about $172 billion in mid-April. The lending sector also contracted sharply, with total value locked dropping from $53 billion to $40 billion. The report said outflows continued for five weeks, indicating sustained capital withdrawals across the DeFi market.

Terms & Concepts
  • DeFi: Short for decentralized finance, a sector of blockchain-based applications that offers services such as lending, trading, and payments without traditional intermediaries.
  • Total value locked: A metric showing the total value of crypto assets deposited in a protocol or sector, often used to gauge activity and investor confidence.
  • bridge: Blockchain infrastructure used to transfer assets or data between networks; bridges can create additional security and operational risks.