The sky has darkened for the DeFi ecosystem in April. According to data from DefiLlama, the Total Value Locked (TVL) has retreated by 10 billion dollars, marking a 7% decline in just one month. A hard blow for the crypto sector, which closed April with 138.6 billion dollars in locked liquidity. Behind these troubling global figures, certain blockchains have suffered particularly heavily.

Avalanche and Solana bleed dry in the crypto ecosystem

In detail, few DeFi projects managed to hold their own in April. Indeed, among the ten most significant blockchains by TVL, Avalanche and Solana have experienced a real ordeal.

具體來說，4 月幾乎沒有 DeFi 專案能撐住。事實上，在 TVL 評選的十大最重要的區塊鏈中，Avalanche 和 Solana 經歷了真正的考驗。

For Avalanche, the tumble was severe, with a massive exodus of 31.5% of the funds committed on its blockchain! A shock for this otherwise promising crypto ecosystem, which now struggles to rebound.

對於 Avalanche 來說，暴跌非常嚴重，其區塊鏈上承諾的資金有 31.5% 大量外流！這對這個原本前景光明的加密生態系統來說是一個衝擊，但現在它正在努力反彈。

Solana is hardly better off, with a hemorrhage of nearly 30% of its DeFi liquidity last month. A concerning underperformance that raises questions about the resilience capacities of this highly publicized crypto project.

Solana 的情況也好不到哪裡去，上個月其 DeFi 流動性流失了近 30%。令人擔憂的表現不佳引發了人們對這個廣為人知的加密項目的彈性能力的質疑。

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Ethereum holds its ground, Bitcoin and certain L2’s progress

以太坊堅守陣地，比特幣和某些 L2 取得進展

While the general trend of crypto was quite bleak in April, some pockets of resistance have nevertheless emerged. Leading the pack, Ethereum has managed to maintain its status as the dominant DeFi blockchain despite a 14.2% decline in its TVL. As proof of its strength, the leading network still captures nearly 69% of the sector’s liquidity.

儘管四月份加密貨幣的整體趨勢相當黯淡，但仍出現了一些阻力。儘管 TVL 下降了 14.2％，但以太坊仍然保持著 DeFi 區塊鏈的主導地位。作為其實力的證明，領先的網絡仍然佔據了該行業近 69% 的流動性。

Another ray of hope is that Bitcoin and several Ethereum Layer 2 (L2) projects have gained attractiveness among crypto investors. Driven by renewed ambitions for Bitcoin, the queen of crypto saw its TVL leap by 39% to surpass the one billion dollar mark.

另一個希望是比特幣和幾個以太坊第 2 層 (L2) 項目已經在加密貨幣投資者中獲得了吸引力。在比特幣新的雄心壯志的推動下，這位加密女王的 TVL 躍升了 39%，突破了 10 億美元大關。

At the same time, L2 blockchains such as BASE (+18.4%), BLAST (+4.4%), or Arbitrum have confirmed their upward trend. Crypto ecosystems that are increasingly favored by developers wishing to benefit from low-cost and high-performance environments.

同時，BASE (+18.4%)、BLAST (+4.4%) 或 Arbitrum 等 L2 區塊鏈也證實了其上升趨勢。加密生態系統越來越受到希望從低成本和高效能環境中受益的開發人員的青睞。

Ultimately, this setback in TVL in April may act as a much-needed jolt for the entire decentralized finance industry. A significant challenge, certainly, but also an opportunity to tidy up, clean the crypto market, and start anew on even firmer foundations.

最終，四月 TVL 的挫折可能會為整個去中心化金融業帶來急需的震動。當然，這是一個重大挑戰，但也是一個整理、清理加密市場並在更堅實的基礎上重新開始的機會。

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