DeFi’s Six-Month Losing Streak Ends in July After six consecutive months of decline, total value locked across DeFi protocols climbed back to approximately $73.8 billion in July. The rebound did not come from the major blockchains. Instead, growth was driven almost entirely by the long tail: > The “Others” category more than doubled, rising from $3.46 billion to roughly $7.02 billion.
> The primary catalysts were the launch of Robinhood Chain and rapid TVL gains on smaller networks.

While the overall recovery remains modest and still leaves DeFi well below earlier 2026 levels, the shift toward newer and smaller chains marks a notable change in where capital is flowing. DeFi TVL Rebounds to ~$73.8B as “Others” Category Doubles on Robinhood Chain Launch Is this the start of a broader DeFi recovery, or just a temporary boost from new chain launches?

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