Ethereum DeFi TVL share falls to 54%, but it remains largest network

Ethereum's share of the total value locked (TVL) in decentralized finance (DeFi) has fallen to approximately 54% as of May 7, down from 63.5% at the beginning of the year, CryptoSlate reported, citing data from DeFiLlama. This figure is approaching its lowest level in recent years. Despite the decline in market share, Ethereum remains the largest network within the DeFi ecosystem, maintaining a TVL of about $45.4 billion. The market attributes this trend to the diversification of DeFi liquidity, driven by the growth of competing chains such as Solana, Base, and BNB Chain.