While the inflow of capital into DeFi on BNB Chain has been steadily decreasing, Binance CEO Changpeng Zhao (CZ) remains optimistic that DeFi will outperform CeFi in the next price surge.
However, the numbers related to CZ’s BNB token holdings may pose further challenges to his cryptocurrency market outlook and Binance’s success.
According to data from DeFiLlama, the Total Value Locked (TVL) on BNB Chain has decreased by $1.85 billion since the beginning of the year (falling from $4.65 billion on January 1, 2023, to around $2.8 billion TVL at the time of writing).
Notably, the top two DeFi protocols on BNB Chain, PancakeSwap (CAKE) and Venus (XVS), dominate the majority of the total investment value, currently having TVLs of $1.27 billion and $608.46 million, respectively. Both of them have also seen outflows of funds of 1.52% and 7.18% in the past 30 days.
On the BNB side, this token has lost 13.8% of its value since the beginning of the year. With an initial trading price of $246.66 on January 1, 2023, BNB is currently trading around $211.