Data: DeFi total TVL has declined by 42% in the past year, while Morpho's USDC deposits have increased by 86% against the trend

Token Terminal data shows that despite a cumulative decline of about 42% in the overall total locked value (TVL) of DeFi over the past 365 days, the USDC deposit scale on the lending protocol Morpho has grown by about 86%, reaching approximately $2.8 billion.

The data indicates that amidst the overall slowdown in DeFi growth, funds continue to flow into on-chain lending protocols represented by Morpho, reflecting that the market demand for USDC yield-bearing lending products remains strong.