Ethereum DeFi Market Share Declines to Near Record Low

Ethereum's decentralized finance (DeFi) market share has seen a significant decline in recent months. According to data from DefiLlama, Ethereum now accounts for around 54% of the total DeFi value locked, down from 63.5% at the start of 2025.

This drop marks the lowest level since May, indicating that rival blockchain networks have grown and absorbed more capital. However, the Ethereum-based DeFi ecosystem still holds substantial capital, with a total value locked of around $45.4 billion.

The decline in Ethereum's market share has sparked forecasters' interest, with predictions ranging from potential recovery to further correction. If Ethereum recovers to $2,350, it may retest $2,400, but if it fails, it could break below $2,253 and fall back to $2,200.