Aave V3 was the main drag on the network, with its MegaETH total value locked falling 80.10% in a day and more than 87% over the month.
MegaETH’s total value locked, or TVL (assets deposited in DeFi protocols), fell 59.44% over the past 24 hours to $31.18 million, according to DefiLlama data. The sharp decline was driven primarily by Aave V3, whose TVL on MegaETH dropped to $11.09 million. DefiLlama data shows Aave V3’s deposits on the chain were down 80.10% in 24 hours, 86.34% over seven days, and 87.94% over the month, making the lending protocol the main drag on MegaETH’s overall TVL.