DeFi & L1L2 — 🔽 DeFi TVL dropped 37% YTD; 140+ companies launched the Open Standard consortium and OUSD stablecoin
DeFi TVL dropped 37% YTD to ~$70B. 140+ firms launched the Open Standard consortium and OUSD stablecoin. BlackRock will list Ethena’s USDe.
➤ DeFi TVL has fallen 37% year-to-date to approximately $70 billion, impacted by market corrections and security exploits, though RWA sector saw a 48% increase. ➤ New initiatives include the Open Standard consortium launching OUSD stablecoin and BlackRock listing Ethena's USDe on its Aladdin platform, while traditional finance players like Nasdaq and BNY Mellon deepen their involvement in the digital asset space. ➤ Several platforms faced challenges, including exploits on Solana-based Drift Protocol and Abracadabra's MIM stablecoin de-pegging, highlighting ongoing risks within the DeFi ecosystem.