DeFi Sector Sees Major Revenue Decline in March

The decentralized finance (DeFi) sector experienced a significant downturn in revenue during March. On-chain transaction volumes, which directly impact the revenue of various protocols, fell sharply. This decline was reflected across DeFi coins and indexes, with the DeFi Index dropping by 40% since the start of the year. Only a few protocols managed to see any revenue increases, signaling a widespread downturn within the industry.