Top Crypto News Today: Ethereum (ETH) TVL loses $2.8 billion after Bellatrix Upgrade

Ethereum lost a massive amount of total value locked (TVL) in August, 2022 Ethereum’s total value locked tumbles from $37.32 billion to $34.36 billion.

ETH has lost over $ 60 billion in TVL since January 5, 2022.

Despite the drop, Ethereum remains on top in the DeFi list despite the TVL drop.

Big and small sized DeFi players like Maker Dao, Uniswap, Curve finance, Lido took a hit at ETH TVL drop.

With the market showing slow signs of recovery from its bearish zone, the charts may show volatile patterns of inflow majorly due to two or more reasons like mounting fear of new developments on the ETH network, cash flow shortage and increasing inflation across countries.

Ethereum has reached the 2k target a couple of times. It reached $2,000 on May 1, 2022.

The Merge is scheduled in three phases 0-1- 2.The 0 phase is the Beacon chain, phase 1 Sharding and the last phase includes moving from Ethereum Virtual Machines to eWASM – Ethereum WebAssembly.

The Merge is scheduled to complete between September 16- 20, 2022. The slumped value in TVL also indicates that retail investors are withdrawing ETH assets to test staggered investing as a safer bet.

Also Read: Top Crypto News Today: Ethereum(ETH) TVL Loses More Than $2.8 Billion After Bellatrix Upgrade