DeFi Spotlight Quarterly

This quarterly publication will look at the key trends, metrics, and the overall health of the DeFi ecosystem. The highlights from this quarter's report are as follows:

• Total Value Locked (TVL) decreased 70% to $70 billion, mostly due to a fall in token prices rather than withdrawals.

• Growth in Stablecoin supply and growth of DeFi TVL are highly correlated.

• Rehypothecation of assets for Q2 peaked at 27% but is now less than half of that.