Ethereum’s dominance in decentralized finance is showing signs of pressure, with its share of total DeFi value locked falling from 63.5% to 54% this year. Despite the decline, Ethereum still remains the clear market leader, holding approximately $45.4 billion in locked assets across DeFi protocols. The shift reflects intensifying competition from faster and lower-cost blockchain networks that are steadily attracting liquidity and users. While Ethereum continues to anchor the ecosystem through its scale and developer activity, the narrowing gap signals a changing landscape where market leadership is no longer untouchable, and the battle for DeFi influence is becoming increasingly aggressive.

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