According to CoinDesk, affected by the volatility of the cryptocurrency market, the total borrowing volume of DeFi lending platforms plummeted by 23% to $18.20 billion in a single week, the lowest in three months. The main agreement Aave and Compound borrowing volume shrank by 28% and 19% respectively, reflecting the large-scale deleveraging of traders. Analysts pointed out that the spread of market panic has led investors to prioritize loan repayment over new borrowing, a trend that could further exacerbate the liquidity crunch if it continues.