Ethereum's DeFi market share has fallen to approximately 54%, a drop of nearly 10 percentage points from the beginning of last year.

CoinFeed reported on May 9th that, according to CryptoSlate, Ethereum's share of total locked value in DeFi has fallen from 63.5% at the beginning of 2025 to approximately 54% as of May 7th, hovering near its lowest level in nearly a year. Competing public chains are establishing advantages in specific areas, eroding Ethereum's market share: BSC leads in DEX trading volume, Tron dominates stablecoin settlement, Bitcoin dominates the collateral asset market, Base performs strongly in Layer 2 activity, and Hyperliquid excels 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.