Ethereum (ETH) TVL Loses More Than $2.9B as Merge Approaches

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Ethereum saw a further decline in total value locked a few days to the highly anticipated “Merge” due to a continuous drop in the amount of liquidity poured into decentralized finance (DeFi).
Ethereum has been the go-to blockchain for thousands of developers and millions of dApp users ever since decentralized finance was coined by a group of entrepreneurs and Ethereum developers in 2018.
An overall bearish market that followed the new milestones reached in 2021 earlier in the year has extended into the third quarter of the year. Unfortunately, Ethereum as the leader of the DeFi sector has not been spared as the chain shed 7% of its opening day value locked.https://cryptonews.net/11750833/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared