Data: DeFi TVL has dropped by more than 45 billion dollars from its previous peak, completely reversing the gains since Trump's election as President of the United States

ChainCatcher news, according to Cointelegraph, since Trump was elected President of the United States in November 2024, the total value locked (TVL) in DeFi protocols has completely retraced its previous gains.

Analyst Miles Deutscher pointed out that since the U.S. elections, DeFi TVL surged to $138 billion on December 17, but had fallen back to $92.6 billion by March 10.

As the meme coin craze fades, Solana has become a target, but Ethereum has also faced challenges in the recent cycle, failing to reach a new all-time high, while Bitcoin broke $109,000 on Trump's inauguration day (January 20).

DefiLlama data shows that Ethereum's TVL has dropped by $45 billion from its cycle peak. Despite positive developments in the industry, such as the U.S. introducing spot ETFs and Trump signing an executive order to establish a strategic Bitcoin reserve, Ethereum has yet to break its all-time high of $4,787 set in November 2021.