The DeFi landscape evolves, with Ethereum maintaining leadership in locked value but losing market share.
Shift in DeFi and New Leaders
By the end of 2023, Ethereum's influence in the DeFi sector was 72.2%. Total value locked in DeFi reached $109B, still affected by the bear market. Over the past year, the value ranged from $125B to $275B.
Emerging Participants in the DeFi Market
New active chains emerged in 2024. BNB Chain held a stable 4.5% market share, while Solana grew to 6.7% due to increased DEX activity and staking initiatives. Bitcoin-based DeFi also appeared, led by Babylon Labs with $5.59B in reserves.
Ethereum Maintains DeFi Leadership
Ethereum continues to lead with over $70B in locked value. LidoDAO and Aave dominate in collateral and lending. The anticipated interest in Ethereum could boost token values in DeFi apps.
Despite the emergence of new participants, Ethereum maintains its lead in the DeFi sector, although its market share is decreasing. Further development of new popular projects and chains is expected.
