The DeFi sector experienced a significant downturn, with $42 billion withdrawn from total value locked (TVL) following problems with Stream Finance’s xUSD, which lost $93 million. Aave is calling for more safety and transparency in the ecosystem.
In response to the liquidity crisis, investors are adopting a risk-off strategy. As of this moment, the TVL in DeFi stands at $131.58 billion, representing a drop of 24% from peak levels earlier this month.
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