Altcoin selloff wipes out $4.9 billion in DeFi TVL
Summary
Recent market instability has caused $455 million in liquidations in the crypto landscape, affecting major cryptocurrencies like Bitcoin and Ethereum. The Decentralized Finance (DeFi) market experienced a significant impact, with the Total Value Locked (TVL) in DeFi dropping almost $5 billion in one day. Avalanche saw a 5.60% decrease, while Thorchain's TVL fell over 29% in 24 hours, raising concerns about the stability of the DeFi sector.
