Data: DeFi total TVL has dropped by 42% over the past year, while Morpho has seen an 86% counter-trend growth in USDC deposits

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BlockBeats News, July 13th, Token Terminal data shows that despite a ~42% decrease in the total value locked (TVL) in DeFi over the past 365 days, the USDC deposit size on the lending protocol Morpho has grown against the trend by approximately 86%, reaching around $2.8 billion.

The data indicates that amid a slowdown in overall DeFi growth, funds are continuing to flow into on-chain lending protocols represented by Morpho, reflecting a sustained demand in the market for USDC yield-bearing products.

Source: BlockBeats

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