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Ethereum's DeFi Market Share Drops to 54% as Rival Chains Gain Ground
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Ethereum's DeFi Market Share Drops to 54% as Rival Chains Gain Ground

May 10, 2026

Ethereum's share of total value locked in DeFi declined to approximately 54% as of May 2026, down from 63.5% at the start of 2025, marking the lowest level since May 2025. Competing Layer 1 and Layer 2 networks are capturing market share from Ethereum, the second-largest cryptocurrency by market cap, as the DeFi ecosystem diversifies across multiple blockchain platforms.

Ethereum DeFi market share decline

  • ▪Competing blockchains are capturing a larger share of the crypto ecosystem as of May 9, 2026
  • ▪Ethereum is the second-largest cryptocurrency by market cap as of May 9, 2026
  • ▪Ethereum's dominance in the DeFi market fell to around 54% as of May 9, 2026
  • ▪Ethereum's DeFi market dominance was 63.5% earlier in 2026

3 sources

Cryptoslate
Ethereum loses 10% of its DeFi market share as rival chains close in
View source article
Coinpedia
Ethereum Dominance in DeFi Falls to 54%, Is ETH Losing Control of Biggest Market?
View source article
Coinpedia
Ethereum’s Share of DeFi TVL Drops to 54%
View source article

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EthereumLayer 1sDeFiLayer 2sCrypto markets