DeFi protocols have seen a sharp decline in total value locked (TVL), dropping by around $15 billion in just 24 hours as the broader crypto market faced intense selling pressure.

According to data from DeFiLlama, DeFi TVL has fallen to $127.3 billion, marking a $14.64 billion decrease from the $141.87 billion recorded on Feb. 2. When measured from Jan. 31, the sector’s total losses stand at approximately $25 billion.

The data shows that the top 10 DeFi platforms, including Aave, Lido, and EigenLayer, have been hit hard, each suffering double-digit percentage declines in TVL during the reporting period.

According to CoinMarketCap data, this downturn comes amid a broader crypto market crash that has wiped out around $400 billion from the crypto market since Jan. 31 and sent Bitcoin’s price plummeting to $92,000 earlier today.

The post Market turmoil slashes DeFi TVL by $15 billion in 24 hours appeared first on CryptoSlate.