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Binance Research
@BinanceResearch
Providing institutional-grade analysis, in-depth insights, and unbiased information to all participants in the digital asset industry.
加入 April 2018
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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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