DeFi TVL Tests Extremes as Market Looks to Sustain Ongoing Recovery

[RSRS]

Following the latest flash crash that offset the recent price run in the digital currency ecosystem, the decentralized finance (DeFi) ecosystem has picked up a recovery that is evident in its Total Value Locked (TVL). According to data from DeFiPulse, the current TVL for all of its listed DeFi protocols was pegged at $86.9 billion at the time of writing. The core growth metric for the DeFi ecosystem has seen very sharp fluctuations since the beginning of the week.



Riding on the news of Bitcoin adoption as a legal tender by El Salvador, the DeFi market soared in response, attaining a new All-Time High (ATH) of $98.266 billion. Unable to sustain this uptrend as the flash crash loomed, the TVL dropped sharply to $76.27 billion on September 8. As seen on the chart above, sharp valuation moves were recorded at $88.561 billion on September 10, down to $82.191 billion earlier today.

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