DeFi needs new innovation, ominous on-chain data emerge
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DeFi needs a new wave of innovation and apps. Total Value Locked in DeFi protocols - admittedly a flawed metric - is at the same level it was over 3 years ago and less than half what it was at the end of 2021 if you exclude liquid staking.Per data from DeFiLlama, the DeFi TVL is currently pegged at $142.347 billion, down by more than $220 billion as of December 2021.
The intention to innovate may, however, face a major strain on the market moving forward. This is based on the Godfrey Benjamin Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.
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