随着竞争对手链的逼近，以太坊失去了 10% 的 DeFi 市场份额

Ethereum's share of the total value locked (TVL) in DeFi compressed from 63.5% at the start of 2025 to around 54% as of May 7, hovering near the lowest level recorded since May 2025. DefiLlama puts Ethereum's current TVL at $45.4 billion, while the chains absorbing share have each staked out a distinct function, such as decentralized exchange (DEX) flow, stablecoin settlement, BTC collateral, consumer onboarding, and perpetuals trading. Solana holds 6.66% of DeFi TVL, BNB Chain 6.60%, Bitcoin 6.35%, Tron 6.17%, Base 5.44%, and Hyperliquid 1.81%. That clustering defines that DeFi has moved from a single Ethereum-centered hub into a network of specialized rails. A bar chart shows Ethereum holding approximately 54% of DeFi TVL as of May 7, 2026, with six rival chains each holding under 7%. Which chains captured market BSC built its position on Binance -linked distribution. In the second quarter of 2025, CoinGecko reported that PancakeSwap volume surged 539.2% quarter-over-quarter to $392.6 billion, accounting for 45% of top-10 DEX volume, with Binance Alpha routing trades directly through PancakeSwap. DefiLlama currently shows BSC with $5.55 billion in TVL and $739.6 million in 24-hour DEX volume. Binance has deepened that integration via Alpha Earn, which lets users provide liquidity to PancakeSwap V3 directly from Binance Wallet , and Alpha 2.0 embeds DEX trading inside the Binance Exchange interface. Binance controls the front end, PancakeSwap executes the trade, and BSC collects the volume. Tron operates on a different axis. DefiLlama shows $89.6 billion in stablecoins on Tron, with USDT accounting for 97.86% of that figure, while 24-hour DEX volume stands at only $55.5 million. Tron's DeFi TVL of $5.19 billion understates its role as the chain with the largest stablecoin flows in crypto, running as a dollar-settlement rail with thin app diversity and enormous throughput. Bitcoin's DeFi TVL reached $5.34 billion, with 6.35% dominance, up 13.4% over 30 days, despite