DeFi total value locked (TVL) has plummeted by more than $57 billion, falling from an early October peak of $171.99 billion to $114.609 billion, according to DeFiLlama data. This represents a decline of over 30% in less than two months as the market experiences a downturn. Leading DeFi protocols such as Lido, EigenLayer, and Ethena have seen their TVL decrease by more than 20% in the past month, reflecting the broader trend of declining values across the decentralized finance sector.