This is a brief summary & bar chart of the historical Total Value Locked (TVL) data for Ethereum-based DeFi protocols year by year up until 2023.
2018: TVL was minimal as DeFi applications were just beginning.
2019: $40 million β Early growth of DeFi with protocols like MakerDAO gaining traction.
2020: $13 billion β DeFi summer saw an explosion in liquidity across various DeFi protocols.
2021: $110 billion β DeFi matured with the launch of many lending & DEX platforms.
2022: $160 billion β Further growth, but ended lower due to market corrections.
2023: $50 billion β Significant decrease due to continuous bear market conditions.
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