"Ethereum's DeFi TVL share fell from 63.5% to 53% between January 2025 and May 2026. Defillama data shows Ethereum holds around $45B TVL, with Solana and BNB Chain gaining ground. Layer-2 chains like Base (5.31% TVL share) are reshaping Ethereum's multichain footprint."
"In absolute terms, Ethereum still commands the largest DeFi stack on any single chain, with approximately $45.50 billion in TVL. But the share erosion tells a different story as competing blockchains have been absorbing capital at a faster rate, diversifying DeFi's liquidity footprint across a growing set of networks. According to Defillama's chain rankings, Solana holds 6.76% of total DeFi TVL, followed closely by BNB Chain at 6.55%, Bitcoin at 6.16%, Tron at 6.01%, Base at 5.31%, and Hyperliquid at 1.82%."
"The drivers behind Ethereum's share decline are well-established, i.e., lower transaction costs on rival networks, the maturation of Ethereum-aligned layer-2 chains that pull TVL away from mainnet, and the growth of DeFi-native ecosystems on Solana and BNB Chain in particular. Protocols like Jupiter, Raydium, and Kamino on Solana, and Pancakeswap on BNB Chain, have attracted billions in liquidity that might previously have defaulted to Ethereum."
Ethereum’s share of total DeFi liquidity has fallen to its lowest level in years, dropping from 63.5% in January 2025 to 53% by May 2026. Ethereum still holds the largest single-chain DeFi TVL at about $45 billion, but competing networks have increased their share more quickly. Solana holds 6.76% of total DeFi TVL, followed by BNB Chain at 6.55%, Bitcoin at 6.16%, Tron at 6.01%, Base at 5.31%, and Hyperliquid at 1.82%. Non-Ethereum chains together account for roughly 47% of the global DeFi market. Lower transaction costs, maturing Ethereum-aligned layer-2 ecosystems, and growth of Solana and BNB Chain DeFi platforms have pulled liquidity away from Ethereum mainnet.
Read at news.bitcoin.com
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