Crypto Market Suffers Major Drop Amidst Economic Uncertainty

Economic pressures are impacting the crypto sector significantly, with DeFi experiencing a notable decline. Total value locked (TVL) in decentralized finance has decreased by over 30% in recent months, according to DefiLlama data, currently hovering around $94.5 billion. This represents a dramatic plunge from the peak of $137 billion observed in mid-December and a temporary dip to $88 billion in March.