According to DefiLlama, Ethereum still leads DeFi with about $45.8 billion in total value locked, but its share has fallen to 53.4% as rival chains and layer-2 networks capture more activity.
According to DefiLlama, Ethereum’s share of DeFi total value locked fell to 53.4%, its lowest level since May 2025, while it still remained the largest DeFi blockchain with about $45.8 billion locked. A separate report described the move as a 10% loss of DeFi market share as rival blockchains gained ground. Solana and BNB Chain each account for about 6.5% of DeFi TVL, while Bitcoin and Tron are each near 6%, indicating broader fragmentation across the sector. The data also suggests some activity is shifting within Ethereum’s wider ecosystem to lower-cost layer-2 networks such as Base.