Ethereum

Global DeFi

DeFi

Base

snake

<p>The crypto universe is shedding its skin, but not like a snake hurried under a heat lamp. Old empires do not always fall in a crash of dishes. Sometimes, they become load-bearing walls, while new shops settle in front of the display window. Ethereum still maintains the stature of a safe, but DeFi now advances in multi-chain mode, with patience, reduced fees, marketing tunnels, and specialized engines.</p>
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  <h2 class="in-brief--title" id="in-brief">In brief</h2>
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   <li>Ethereum retains 45.4 billion locked despite a DeFi dominance now falling around 53% worldwide.</li>
   <li>Solana explodes daily volumes thanks to fast transactions and extremely reduced fees now.</li>
   <li>Base benefits powerfully from the Coinbase network to accelerate the massive adoption of new global crypto users.</li>
   <li>Tron largely dominates stablecoin transfers with nearly 90 billion dollars currently transported daily.</li>
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<h2 id="h-ethereum-keeps-the-safe-but-its-throne-is-seriously-starting-to-creak">Ethereum keeps the safe, but its throne is seriously starting to creak</h2>
<p>Ethereum retains about 45.4 billion dollars locked in global DeFi, which remains a mountain. Yet, its share now falls <a href="https://news.bitcoin.com/ethereums-defi-tvl-dominance-drops-to-53-approaching-multi-year-low/" rel="noopener noreferrer nofollow">around 53%</a>, down from 63.5% at the beginning of 2025. Indeed, dominance does not disappear, it dilutes like black ink in too vast a bath.</p>
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<p>Wu Blockchain summarizes this great retreat with a dry formula: “<em>Ethereum’s dominance in DeFi TVL drops to 54%, but it still leads with 45.4 billion dollars.</em>“</p>
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<p>This figure stings, but it does not tell a collapse. Ethereum still holds <a href="https://www.cointribune.com/en/aave-crosses-a-key-milestone-after-the-historic-kelp-dao-attack/" rel="noopener noreferrer nofollow">Aave</a>, MakerDAO, Uniswap, the major liquidity pockets and solid institutional confidence.</p>
<p>However, the crypto market no longer settles for a single temple. Users seek lower fees, faster validations, and smoother experiences. Ether remains central, but its throne now resembles a chess piece attacked on several diagonals.</p>
<h2 id="h-crypto-becomes-an-arcade-where-each-chain-sells-its-gameplay">Crypto becomes an arcade where each chain sells its gameplay</h2>
<p>DeFi no longer looks like a single capital, but like a financial arcade. Each blockchain arrives with its joystick, marketing bonus, and gameplay.&nbsp;</p>
<p>Solana attracts traders thanks to its speed and tiny fees. Its daily activity reaches about 15.26 billion dollars.</p>
<p>BNB Chain benefits from <a href="https://www.cointribune.com/en/pancakeswap-exceeds-all-expectations-with-a-quarterly-volume-of-530-billion-dollars/" rel="noopener noreferrer nofollow">PancakeSwap</a> and Binance distribution. The DEX soared 539% over a quarter, with 392.6 billion dollars traded.</p>
<p>Then, Tron plays the role of the digital dollar tanker truck. The network transports nearly 89.6 billion dollars in stablecoins, almost entirely in USDT.&nbsp;</p>
<p>Bitcoin is also developing its BTCFi corridor, with about 5.34 billion dollars in TVL. Hyperliquid, meanwhile, turns on-chain perpetuals into a surgical shooting range, with 9.37 billion dollars volume over 24 hours.</p>
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<p>Jesse Pollak takes this logic to the extreme with Base:&nbsp;</p>
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 <p><em>Bring every financial instrument on-chain. This marks a significant milestone for the broader real asset ecosystem.</em></p><cite>Source: X / @jessepollak</cite>
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<h2 id="h-layer-2s-blur-the-radars-yet-still-keep-the-kingdom-s-skeleton">Layer-2s blur the radars yet still keep the kingdom’s skeleton</h2>
<p>The most intriguing paradox comes from Layer-2. Base, Arbitrum, and Optimism withdraw TVL from Ethereum L1 in DeFiLlama charts. Yet, these networks remain connected to Ethereum’s security and settlement.&nbsp;</p>
<p>In other words, Ethereum loses points on the scoreboard but often keeps the stadium’s framework. It’s less glamorous than a “pump,” but much more structuring.</p>
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<p>Base now represents more than 5% of the DeFi market, backed by Coinbase and present in over 140 countries. This is not a kitchen detail but a commercial access ramp.&nbsp;</p>
<p>Newcomers no longer necessarily enter via Ethereum mainnet. They arrive through a simpler, cheaper interface, almost packaged like a SaaS product.</p>
<h3 id="h-numbers-shaking-up-the-dashboards">Numbers shaking up the dashboards</h3>
<ul>
 <li>Ethereum retains about 45.4 billion dollars locked;</li>
 <li>Solana exceeds 15 billion in daily trading activity;</li>
 <li>Base captures more than 5% of the DeFi market;</li>
 <li>The <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" rel="noopener noreferrer nofollow">ETH price</a> reaches around 2,328 dollars at the time of writing;</li>
 <li>Tron transports almost 90 billion in stablecoins.</li>
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<p>While DeFi fragments, Bitcoin regains the psychological sceptre of the crypto market. Its dominance now exceeds <a href="https://www.cointribune.com/en/bitcoin-dominance-exceeds-61-altseason-drifts-even-further-away/" rel="noopener noreferrer nofollow">61%</a>, further distancing the idea of a quick new altseason. Capital returns to the historic king, like courtiers under tension. Ethereum remains powerful, but the moment belongs to the orange throne.</p>

Ethereum’s Share in Global DeFi Drops to 53%, Its Lowest Level in Years

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