Data: DeFi Total Value Locked (TVL) has dropped by 42% over the past year, while Morpho has experienced an 86% counter-trend growth in USDC deposits

BlockBeats News, July 13th, Token Terminal data shows that despite a cumulative decrease of approximately 42% 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 about 86%, reaching around $2.8 billion.

The data indicates that amidst the overall slowdown in DeFi growth, funds are continuing to flow into on-chain lending protocols represented by Morpho, reflecting that the market's demand for USDC yield-bearing products is still growing.