DeFi Daily Volume Dwindles to 7-Month Lows as Sector Suffers From Hacks

Total value locked (TVL), which measures the amount of capital that is held across all DeFi protocols, slumped from $45.3 billion to $42.9 billion in July as the sector failed to turn the tide against falling asset prices. During this period, ether (ETH) traded down from $1,920 to $1,850 whilst bitcoin (BTC) failed to break through resistance at $31,500.