According to the DefiLlama data aggregator statistics, the decentralized finance (DeFi) total value locked (TVL) plunged by $10 billion.
Avalanche and Solana were the blockchains with the greatest decline. It was a huge shock for Avalanche, which suffered a significant outflow of funds amounting to 31.5%, while Solana managed to hold its losses to around 30%.
Thus, although it faces fierce competition with other platforms, Solana still manages to gain around $6 billion in its operation in the DeFi sector. It is still Ethereum that holds onto most of DeFi with around 67% of DeFi’s TVL in April, dropping by 14.2%, while Bitcoin carried on as it rolled on.
Additionally, Base, a Layer-2 blockchain developed by the cryptocurrency exchange Coinbase, brought in some new capital and raised over $1 billion in total locked funds.
The DeFi market was in consolidation mode in April, where some blockchains had a staggering outflow.
