Binance Research(@BinanceResearch):On-chain leverage ratio climbed to ~38%, matching 2021 levels, driven largely by TVL compression rather than renewed borrowing demand. April's DeFi exploits triggered ~US$13B in TVL outflows. Despite the broader market pullback, meaningful deleveraging has yet to materialize.

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Binance Research@BinanceResearch

2026.06.16 00:02

On-chain leverage ratio climbed to ~38%, matching 2021 levels, driven largely by TVL compression rather than renewed borrowing demand. April's DeFi exploits triggered ~US$13B in TVL outflows. Despite the broader market pullback, meaningful deleveraging has yet to materialize.