March 25, 2023

At the time of writing, the current total value locked (TVL) across all DeFi platforms is $59.18 billion. DeFi platforms have been severely affected by the general downturn that has plagued the cryptocurrency market since early August.

At the beginning of the month, the TVL of the DeFi market was $64.27 billion, down 8%. A general market downturn and a series of DeFi hacks and exploits led to a 68% drop in TVL in the first half of the year.

Data from Defiliama Show TVL rebounded and recovered more than 20% of its value. At the time of writing, the general DeFi market TVL is at April 2021 levels.

Source: DeFiLlama

MakerDao currently holds $7.79 billion in TVL, controlling 13.16% of the entire market. So how has the protocol fared so far this month amid a generally bearish market?

So far, not so good…

After witnessing a boom in the DeFi space at the end of 2021, MakerDao entered the new year with a TVL of $17.5 billion. However, its TVL fell by more than 55% in the first six months of the year as the protocol’s fortunes reversed. By June 30, MakerDAO’s TVL had dropped by half of what it was in January.

MakerDAO’s TVL didn’t break away from a temporary market-wide retracement in July, rising quickly by 12% and ending the month with a TVL of $8.63 billion.

MakerDAO’s TVL has fallen 10% over the past 26 days as the cryptocurrency market faltered under the fallout from broader financial markets.

Source: DeFiLlama

As for the daily revenue of the protocol, the data comes from TokenTerminal It was revealed that the number had been declining over the past few months. In the last month, that number fell by 8%.

Over the past 180 days, MakerDAO’s daily revenue has dropped by 52.9%. During the same period, the protocol’s fully diluted market capitalization has fallen by 45%.

Source: Token Terminal

In addition, data from Dune Analysis It shows that since the beginning of the year, the annualized income from the various assets included in the agreement has continued to decline. At press time, the total value of assets held by MakerDAO is $6,571,802,698.

Source: Dune Analysis

What about manufacturers?

according to Coin market value, the protocol’s native token, MKR, changed hands at $772.05 at press time. It started August fixed at $1,065 and has since fallen 37%. Trading volume on the network surged to a daily high of $861.7 million before falling again.

Source: Santiment

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