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Ethereum’s DeFi debacle and what it actually needs to recover from its plunge
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November was a difficult month not only for the spot market but for the DeFi market as well, and Ethereum is the prime example of it.
Even though Ethereum holds 66% domination in the DeFi space, halfway through the month of November the DeFi king lost about $18 billion from its total value locked (TVL) and has since been making its recovery slowly.
The biggest letdown came from some of the derivatives protocols which had a pretty significant drop of 13.21%, followed by Lending and DEXs at 9.17%
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