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</header> <div class="featured_image_container"> <img width="1280" height="720" src="https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd.jpg" class="story__img article__poster" alt="Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locked Evaporates in 12 Months" decoding="async" loading="lazy" srcset="https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd-300x169.jpg 300w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd-1024x576.jpg 1024w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd-768x432.jpg 768w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd-190x107.jpg 190w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd-380x214.jpg 380w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd-760x428.jpg 760w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lrnddd.jpg 1280w" sizes="(max-width: 1280px) 100vw, 1280px"/> </div> <p><strong>Decentralized finance (defi) has continued to stay deeply ingrained within the cryptocurrency financial system because the ecosystem gives customers with a non-custodial solution to change digital belongings, lend cryptocurrencies, problem stablecoins, and methods to revenue from arbitrage. Within the lending sector of defi, loads has modified over the past 12 months as lending functions like Terra’s Anchor Protocol bit the mud, and 71.95% of the entire worth locked in defi lending protocols evaporated.</strong></p> <h2>From $37 Billion to $10 Billion: The High 5 Defi Lenders Then and Now</h2> <p>Final yr round this time, decentralized finance lending protocols held $37.41 billion in whole worth locked (TVL), and the defi protocol Aave dominated with $12.87 billion. An archive.org <a target="_blank" href="https://web.archive.org/web/20220110020644/https://defillama.com/protocols/Lending" rel="noopener">snapshot</a> from Jan. 10, 2022, reveals that Aave’s $12.87 billion TVL was bigger than the TVL the highest 5 defi lending protocols held on Jan. 17, 2023.</p> <figure id="attachment_569149" aria-describedby="caption-attachment-569149" style="width: 1280px" class="wp-caption aligncenter"><img decoding="async" loading="lazy" class="wp-image-569149 size-full" src="https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl55555555.jpg" alt="" width="1280" height="600" srcset="https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl55555555-300x141.jpg 300w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl55555555-1024x480.jpg 1024w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl55555555-768x360.jpg 768w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl55555555.jpg 1280w" sizes="(max-width: 1280px) 100vw, 1280px"/><figcaption id="caption-attachment-569149" class="wp-caption-text">High 5 lending protocols by whole worth locked on Jan. 10, 2022.</figcaption></figure> <p><a target="_blank" href="https://web.archive.org/web/20230117010721/https://defillama.com/protocols/Lending" rel="noopener">Data</a> reveals that the highest 5 defi protocols in mid-Jan. 2023 embrace Aave ($4.58 billion), Justlend ($3.02 billion), Compound ($1.85 billion), Venus ($813.63 million), and Morpho ($221.59 million). Presently, all 5 of the aforementioned defi protocols have a mixed TVL of round $10.49 billion.</p> <figure id="attachment_569150" aria-describedby="caption-attachment-569150" style="width: 1280px" class="wp-caption aligncenter"><img decoding="async" loading="lazy" class="wp-image-569150 size-full" src="https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl.jpg" alt="" width="1280" height="600" srcset="https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl-300x141.jpg 300w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl-1024x480.jpg 1024w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl-768x360.jpg 768w, https://static.news.bitcoin.com/wp-content/uploads/2023/01/lendtvl.jpg 1280w" sizes="(max-width: 1280px) 100vw, 1280px"/><figcaption id="caption-attachment-569150" class="wp-caption-text">High 5 lending protocols by whole worth locked on Jan. 17, 2023.</figcaption></figure> <p>On Jan. 10, 2022, Terra’s Anchor Protocol held roughly $8.5 billion in worth, however now the defi protocol is in ashes. Anchor was one of many <a target="_blank" href="https://news.bitcoin.com/a-dark-day-for-crypto-a-deep-dive-into-the-obliterated-terra-token-ecosystem-and-damaged-apps/" rel="noopener">main components</a> within the Terra ecosystem as terrausd (UST) holders deposited UST for a 20% annual proportion fee return that compounded every day.</p> <p>However in Might 2022, UST depegged from its $1 parity, and Anchor holds solely round $2 million at the moment. Compound held the third-largest TVL by way of defi lending protocols with $8.09 billion on the time. On Jan. 17, 2023, Compound’s TVL has shrunk to $1.85 billion.</p>
<p>The second-largest defi lending protocol at the moment is Justlend with $3.03 billion. The Tron-based Justlend moved from the seventh-largest defi lending protocol TVL to the second by leaping from $1.72 billion to the present $3 billion. Justlend is without doubt one of the solely decentralized finance lending functions that noticed a rise over the past 12 months.</p> <p>The fourth and fifth-largest defi lenders final yr, Abracadabra and Cream Finance, are not within the high 5 standings and have been changed by Venus and Morpho. Cream Finance is now within the twentieth place, dropping from $2.14 billion to the present $42.94 million.</p> <div class="article__body__tags-related__tags"> <h6 class="article__body__tags-related__title"> Tags on this story </h6> <div class="article__body__tags"><a target="_blank" href="https://news.bitcoin.com/tag/aave/" rel="noopener">Aave</a>, <a target="_blank" href="https://news.bitcoin.com/tag/abracadabra/" rel="noopener">Abracadabra</a>, <a target="_blank" href="https://news.bitcoin.com/tag/anchor-protocol/" rel="noopener">anchor protocol</a>, <a target="_blank" href="https://news.bitcoin.com/tag/arbitrage/" rel="noopener">Arbitrage</a>, <a target="_blank" href="https://news.bitcoin.com/tag/ashes/" rel="noopener">ashes</a>, <a target="_blank" href="https://news.bitcoin.com/tag/change/" rel="noopener">Change</a>, <a target="_blank" href="https://news.bitcoin.com/tag/compound/" rel="noopener">Compound</a>, <a target="_blank" href="https://news.bitcoin.com/tag/cream-finance/" rel="noopener">cream finance</a>, <a target="_blank" href="https://news.bitcoin.com/tag/cryptocurrencies/" rel="noopener">Cryptocurrencies</a>, <a target="_blank" href="https://news.bitcoin.com/tag/cryptocurrency/" rel="noopener">Cryptocurrency</a>, <a target="_blank" href="https://news.bitcoin.com/tag/decentralized-finance/" rel="noopener">decentralized finance</a>, <a target="_blank" href="https://news.bitcoin.com/tag/defi/" rel="noopener">DeFi</a>, <a target="_blank" href="https://news.bitcoin.com/tag/defi-lending/" rel="noopener">defi lending</a>, <a target="_blank" href="https://news.bitcoin.com/tag/depegged/" rel="noopener">depegged</a>, <a target="_blank" href="https://news.bitcoin.com/tag/digital-assets/" rel="noopener">Digital Assets</a>, <a target="_blank" href="https://news.bitcoin.com/tag/drop/" rel="noopener">drop</a>, <a target="_blank" href="https://news.bitcoin.com/tag/economy/" rel="noopener">Economy</a>, <a target="_blank" href="https://news.bitcoin.com/tag/evaporated/" rel="noopener">evaporated</a>, <a target="_blank" href="https://news.bitcoin.com/tag/exchange/" rel="noopener">Exchange</a>, <a target="_blank" href="https://news.bitcoin.com/tag/increase/" rel="noopener">increase</a>, <a target="_blank" href="https://news.bitcoin.com/tag/justlend/" rel="noopener">Justlend</a>, <a target="_blank" href="https://news.bitcoin.com/tag/lend/" rel="noopener">lend</a>, <a target="_blank" href="https://news.bitcoin.com/tag/lending/" rel="noopener">lending</a>, <a target="_blank" href="https://news.bitcoin.com/tag/lending-applications/" rel="noopener">lending applications</a>, <a target="_blank" href="https://news.bitcoin.com/tag/lending-defi/" rel="noopener">lending defi</a>, <a target="_blank" href="https://news.bitcoin.com/tag/morpho/" rel="noopener">Morpho</a>, <a target="_blank" href="https://news.bitcoin.com/tag/non-custodial/" rel="noopener">Non Custodial</a>, <a target="_blank" href="https://news.bitcoin.com/tag/parity/" rel="noopener">Parity</a>, <a target="_blank" href="https://news.bitcoin.com/tag/profit/" rel="noopener">Profit</a>, <a target="_blank" href="https://news.bitcoin.com/tag/protocols/" rel="noopener">Protocols</a>, <a target="_blank" href="https://news.bitcoin.com/tag/sector/" rel="noopener">Sector</a>, <a target="_blank" href="https://news.bitcoin.com/tag/stablecoins/" rel="noopener">Stablecoins</a>, <a target="_blank" href="https://news.bitcoin.com/tag/terra/" rel="noopener">Terra</a>, <a target="_blank" href="https://news.bitcoin.com/tag/total-value-locked/" rel="noopener">total value locked</a>, <a target="_blank" href="https://news.bitcoin.com/tag/tron/" rel="noopener">tron</a>, <a target="_blank" href="https://news.bitcoin.com/tag/tvl/" rel="noopener">TVL</a>, <a target="_blank" href="https://news.bitcoin.com/tag/value-locked/" rel="noopener">value locked</a>, <a target="_blank" href="https://news.bitcoin.com/tag/venus/" rel="noopener">Venus</a></div> </div><p><em><strong>What do you concentrate on the defi lending protocol shake-up during the last 12 months? Tell us your ideas about this topic within the feedback part beneath.</strong></em></p> <div class="article__body__author"> <div class="article__body__author__avatar"> <img src="https://static.news.bitcoin.com/wp-content/uploads/2018/04/2Khomers-150x150.jpg" srcset="https://static.news.bitcoin.com/wp-content/uploads/2018/04/2Khomers-150x150.jpg 1x, https://static.news.bitcoin.com/wp-content/uploads/2018/04/2Khomers-300x300.jpg 2x" class="avatar avatar-150 photo"/> </div> <div class="article__body__author__info"> <h6 class="article__body__author__info__name"> Jamie Redman </h6> <p class="article__body__author__info__about"> Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising at the moment.<br/><span class="td-social-icon-wrap"> <a target="_blank" href="https://twitter.com/jamieCrypto" title="Twitter" rel="noopener"> <i class="td-icon-font td-icon-twitter"/> </a> </span> </p> </div> </div>
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