DeFi TVL has completely retraced the gains since Trump was elected President of the United States, falling more than 45 billion dollars from its previous peak
PANews reported on March 10th, according to Cointelegraph, since Trump was elected President of the United States in November 2024, the total value locked (TVL) in DeFi protocols has completely retraced its previous gains. Analyst Miles Deutscher pointed out that since the US election, DeFi TVL once soared to $138 billion on December 17th but had fallen back to $92.6 billion by March 10th.
As the meme coin craze subsided, Solana became a target of criticism while Ethereum also faced challenges during recent cycles and failed to set new historical highs. Bitcoin broke through $109k on Trump's inauguration day (January 20). Data from DefiLlama shows that Ethereum's TVL has dropped by $45 billion from its cycle high point. Despite positive developments in the industry such as the launch of physical ETFs in the U.S and Trump signing an executive order establishing strategic bitcoin reserves, Ethereum's all-time high of $4787 set in November 2021 has not been surpassed yet.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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