March turned out to be a tough month for the decentralized finance (DeFi) sector. According to recent data, many of the top DeFi protocols saw a sharp decline in their revenue streams, with some platforms recording double-digit percentage drops compared to February.
Protocols like Lido Finance, MakerDAO, and Uniswap were among those hit the hardest. Experts say this downturn may be linked to lower on-chain activity, reduced trading volumes, and waning user interest in speculative DeFi products.
Solana-based platforms such as Jito and Raydium also witnessed revenue drops despite previous growth momentum. The sudden dip suggests that even newer chains aren’t immune to overall market cooling.
Analysts believe this could be a temporary correction rather than a long-term trend. However, it raises important questions about the sustainability of revenue models in the DeFi space and whether platforms can adapt to changing user behavior and market conditions.
As the market continues to evolve, all eyes will be on how DeFi protocols respond—whether by introducing new features, cutting fees, or building stronger user incentives to regain momentum.
