Ether (ETH) hit a record high of 4,946 USD, yet the total value locked (TVL) in DeFi lagged at 91 billion USD, underperforming compared to previous peaks.
Currently, about 21 million ETH are locked in DeFi, significantly lower than the 29 million in July 2021, indicating reduced retail engagement despite rising prices.
Layer 2 solutions are attracting liquidity away from DeFi, leading to efficiency gains, yet retail participation remains crucial for reclaiming past TVL levels.
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