Mode Network's TVL has plummeted 99% from its peak in May last year.

Data from DefiLlama shows that the total locked value (TVL) of Ethereum's Layer 2 network Mode Network has plummeted 99% from its peak of $582 million in May 2024 to approximately $4 million. The price of the network's native token MODE has fallen by more than 98% from its historical high.