Ethereum DeFi market share drops to about 54%, hitting a new low in nearly a year

According to CryptoSlate, the proportion of Ethereum in the total lock up volume of DeFi has dropped from 63.5% at the beginning of 2023 to about 54% on May 7th, approaching the lowest level in nearly a year. Competitive public chains have shown strong performance in different fields, respectively eroding Ethereum's market share: BSC leads in DEX trading volume, Tron dominates stablecoin settlement, Bitcoin occupies the collateral asset market, Base performs outstandingly in Layer 2 activity, and Hyperliquid dominates in the perpetual contract field. At present, Solana、BNB Chain、 Bitcoin, Tron, Base, and Hyperliquid account for 6.66%, 6.60%, 6.35%, 6.17%, 5.44%, and 1.81% of DeFi TVL, respectively.