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Key Takeaways
- Ethereum DeFi TVL share: ~54%, down from 63.5% at the start of 2025.
- Ethereum absolute TVL: $45.4 billion.
- Ranks 2-5 cluster: Solana 6.66%, BNB 6.60%, Bitcoin 6.35%, Tron 6.17%.
- Cluster spread: just 0.49 percentage points separating four competitors.
- Base at 5.44% approaching the cluster from below.
The Share Decline That Looks Worse Than It Is
Ethereum’s share of total DeFi TVL has fallen from 63.5% at the start of 2025 to approximately 54% as of May 7, 2026, a decline of 9.5 percentage points across 16 months. That number will generate headlines about Ethereum losing ground. The absolute figure tell...
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