DeFi TVL Dives 39% YTD to $70 Billion Amid Crypto Price Corrections and Exploit Wave

The DeFi (Decentralized Finance) space has seen a significant decline in Total Value Locked (TVL), dropping by 39% year-to-date to $70 billion. This is according to on-chain analysis by CryptoRank, which showed that DeFi TVL has been falling every single month this year, sliding from about $115 billion to around $70 billion as of late June.

Among the top ten largest blockchains by TVL, only Tron and Hyperliquid posted positive growth this year. Tron gained about 5%, largely due to its dominant role in USDT transfers and stablecoin settlement, while Hyperliquid rose roughly 7%, driven by its position as the leading venue for on-chain perpetual futures trading.

Arbitrum took the steepest hit among top-ten chains, dropping 55.3% to $1.3 billion in TVL. Ethereum has seen a 43% year-to-date decline but remains the largest DeFi chain, with $38.9 billion in TVL. Solana fell 40.5% to $4.93 billion.

The outflows closely follow the broader crypto price corrections, which began after Bitcoin hit an all-time high above $122,000 in October 2025, with the total crypto market capitalization peaking at $4.21 trillion. At the time of writing, the crypto market sits at a $2.15 trillion capitalization, which represents nearly 50% drop from the October peak.

CryptoRank also attributed the outflows to a record wave of exploits that have hit the market this year. The crypto industry has recorded 121 hacks in 2026 through late June, with combined losses reaching approximately $942 million. The second quarter alone accounted for 85 of those incidents and roughly $775 million in stolen funds.