Smart contract platform tokens and decentralized finance (defi) protocols have taken a beating since the FTX collapse last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi protocols has dropped to $43 billion, the lowest defi TVL since the first week of March 2021.
Smart Contract Tokens and Defi Protocols See Significant Value Reductions Since FTX’s Collapse
Decentralized finance and smart contract platform tokens have suffered a great deal during the last week, following the FTX fallout. Today, smart contract platform tokens are much lower in value, as a large number of coins shed 8% to over 20% during the last seven days.