PANews reported on March 20th that, according to CoinDesk, the total value locked (TVL) of DeFi risk management giant Gauntlet has decreased by 22.84% over the past seven days to $1.325 billion, a reduction of approximately $380 million from its peak a week ago. Gauntlet stated that the main driver of this decline was the end of OKX's pre-deposit activity on the Katana chain, rather than overall market pressure, with the outflowing assets primarily consisting of stablecoins.

Gauntlet stated that short-term volatility occurs periodically due to the end of incentive programs, token issuance, and changes in market conditions, and that institutional risk managers handle these events. Gauntlet has previously experienced large-scale fund fluctuations. In October 2025, its USDT vault absorbed a single deposit of $775 million, recovering to pre-campaign levels within ten days.