DeFi TVL also decreased in July from $45.3 billion to $42.9 billion. Conic Finance emerged as the biggest loser of the group. The protocol suffered a reentrancy attack last week and lost 1,700 ETH.
The deal’s specific person TVL decreased by 65%, from $125 million to $42 million.
Coincidentally, the largest lending protocol inside the zkSync ecosystem, EraLend, experienced another reentrancy attack on Tuesday, resulting in a loss of $3.4 million.
The TVL of several distinct DeFi protocols has decreased by as much as 50% this month, including the liquidity staking protocol Ankr, the NFT lending service BendDAO, and the Arbitrum-based DEX Chronos.
Important DeFi protocols including MakerDAO, Blur, and Curve Finance have also lost more than 15% of their TVL in the past month. Even if the majority of DeFi failed to make money in the comparably stable large industry, several protocols stood out.
Following the introduction of its rehypothecation protocol, EigenLayer observed new inflows, whilst Lybra Finance and Solana-based Marinade Finance continued to show strong development, with TVL increases of 73% and 45%, respectively.