Odaily星球日报讯 链上分析师@0xThoor 于 X 发文表示：“基于 DefiLlama TVL 数据指标，过去几年/周期的许多链现在已完全死亡： • Harmony：14 亿美元-＞ 170 万美元（-99.9%） • Aurora：13 亿美元-＞ 1400 万美元（-98.9%） • Moonriver：3.8 亿美元-＞ 240 万美元（-99.3%） • Canto：2.05 亿美元-＞ 800 万美元（-96.1%） • Evmos：1200 万美元-＞ 30 万美元（-97.5%） Polygon TVL 也从 2021 年的 99 亿美元下降了 92%，降至 7.7 亿美元，而 Polygon zkEVM（前段时间被大肆宣传）的 TVL 仅为 600 万美元。 未来几年，预计更多项目将步其后尘。”

Odaily星球日报讯 链上分析师@0xThoor 于 X 发文表示：“基于 DefiLlama TVL 数据指标，过去几年/周期的许多链现在已完全死亡：• Harmony：14 亿美元-＞ 170 万美元（-99.9%）• Aurora：13 亿美元-＞ 1400 万美元（-98.9%）• Moonriver：3.8 亿美元-＞ 240 万美元（-99.3%）• Canto：2.05 亿美元-＞ 800 万美元（-96.1%）• Evmos：1200 万美元-＞ 30 万美元（-97.5%）Polygon TVL 也从 2021 年的 99 亿美元下降了 92%，降至 7.7 亿美元，而 Polygon zkEVM（前段时间被大肆宣传）的 TVL 仅为 600 万美元。未来几年，预计更多项目将步其后尘。”

分析师：自上个周期以来，Polygon等多个DeFi项目TVL下降超90%

Odaily reported that on X, on-chain analyst @0xThoor posted that "Based on the DefiLlama TVL data indicator, many chains that were once worth billions of dollars have now completely died: • Harmony: $1.4 billion -> $1.7 million (-99.9%) • Aurora: $1.3 billion -> $14 million (-98.9%) • Moonriver: $380 million -> $2.4 million (-99.3%) • Canto: $205 million -> $8 million (-96.1%) • Evmos: $12 million -> $300,000 (-97.5%) Polygon TVL has also declined by 92% from $9.9 billion in 2021 to $770 million, while the TVL of Polygon zkEVM (which was heavily promoted recently) is only $6 million. In the next few years, it is expected that more projects will follow suit."

Odaily reported that on X, on-chain analyst @0xThoor posted that "based on DefiLlama TVL data, many chains that were once thriving have now completely died: • Harmony: $1.4 billion -> $1.7 million (-99.9%) • Aurora: $1.3 billion -> $14 million (-98.9%) • Moonriver: $380 million -> $2.4 million (-99.3%) • Canto: $205 million -> $8 million (-96.1%) • Evmos: $12 million -> $300,000 (-97.5%)". Polygon TVL has also declined by 92% from $9.9 billion in 2021 to $770 million, while Polygon zkEVM (heavily promoted recently) has a TVL of only $6 million. In the coming years, more projects are expected to follow suit.

Analyst: Since the last cycle, TVL of multiple DeFi projects such as Polygon has dropped by more than 90%

The top 5 public chain TVL performance in the past week showed significant differentiation:
Ethereum (ETH) current TVL is $55.95 billion, down 3.30%;
Solana TVL reached $9.232 billion, down 8.21%;
TRON TVL reported $5.684 billion, only a slight drop of 0.09%;
BSC TVL reported $5.1 billion, with a 3.61% increase in the past week;
BASE performed impressively, with a TVL of $306.9 million, up 8.23%.

TVL changes of public chains in the past week: ETH fell 3.3%, Solana plummeted 8.21%, and BASE soared 8.23% against the trend

Odaily reported that DeFi researcher Ignas published an article stating that Uniswap's TVL has fallen to the 10th position and may drop out of the top 10. Looking at the top 9 DApps by TVL, from Lido Staking, EigenLayer/Babylon reStaking to Pendle, Maker, and Aave, their common feature is that they are related to yield and capital efficiency. It is worth mentioning that TRON's JustLend and Morpho are catching up with Uniswap. Uniswap's ranking decline is due to the fact that many LPs are actually losing money due to Impermanent Loss, and the WBTC/ETH pool only generates an APY of 3.7% from trading fees (without considering Impermanent Loss). Due to the high transaction costs and low TPS on Ethereum (even on L2), the migration of transactions to Solana has further reduced Uniswap's earnings, causing LPs to withdraw their capital and transfer it elsewhere, and the fee switch will further suppress the yield rate, forcing LPs to leave. 10 days ago, Uniswap v4 was launched, with a cumulative TVL of $65 million (with 1INCH token alone worth $20 million). Uniswap's current solution may depend on Uniswap v4 bringing higher capital efficiency and the development of external ecosystem Hooks, while also providing incentives for developers to build on Uniswap v4. Additionally, Uniswap may also consider leveraging its brand to launch on Solana.

Researcher: Uniswap TVL may fall out of the top ten, and its revenue and capital efficiency need to be improved

Some tokens with no heat, no narrative, no fundamentals, and continuous massive unlocking, find it difficult to attract capital attention, and may face further declines.

Analyst: Since the last cycle, TVL of multiple DeFi projects such as Polygon has dropped by more than 90%

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