According to CryptoSlate, Ethereum’s share of total DeFi TVL has declined from 63.5% at the beginning of 2023 to approximately 54% as of May 7, nearing its lowest level in the past year. Competing blockchains have gained strong traction across various segments, eroding Ethereum’s market share: BSC leads in DEX trading volume, Tron dominates stablecoin settlements, Bitcoin holds the collateral assets market, Base stands out in Layer 2 activity, and Hyperliquid leads in perpetual contracts. Currently, Solana, BNB Chain, Bitcoin, Tron, Base, and Hyperliquid account for 6.66%, 6.60%, 6.35%, 6.17%, 5.44%, and 1.81% of DeFi TVL, respectively.
Ethereum's DeFi market share falls to 54%, near a one-year low
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Summary
Ethereum news shows its DeFi TVL share has dropped to 54% as of May 7, down from 63.5% in early 2023. Rivals such as BSC, Tron, and Base are gaining traction in DEX volume, stablecoin settlements, and Layer 2 activity. Altcoins to watch include Bitcoin in collateral and Hyperliquid in perpetual contracts.
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