Ethereum (ETH) TVL Loses More Than $2.9B as Merge Approaches
Ethereum saw a further decline in total value locked a few days to the highly anticipated “Merge” due to a continuous drop in the amount of liquidity poured into decentralized finance (DeFi). Ethereum has been the go-to blockchain for thousands of developers and millions of dApp users.
An overall bearish market that followed the new milestones reached in 2021 earlier in the year has extended into the third quarter of the year. Unfortunately, Ethereum as the leader of the DeFi sector has not been spared as the chain shed 7% of its opening day value locked. After reaching new highs in 2021, Ethereum made several attempts to shackle off the bears in January when it reached a yearly peak of $100.99 billion.
Source
https://t.me/CryptoMarketUpdates
