Decentralized finance (DeFi)

Though its magnitude was relatively small, DeFi extended its downtrend for the seventh consecutive month, with a 0.36% fall in total value locked (TVL). Notably, Tron saw strong performance in September, with its TVL increasing by 25% for the month. Mixin Network recorded a significant decline of over 60% due to a $200M exploit that contributed to overall decreases in DeFi TVL.