According to CoinWorld, citing DeFiLlama data, Ethereum's share of DEFI TVL has decreased from 63.5% at the beginning of 2025 to approximately 54% as of May 7, approaching the lows since May 2025. Currently, Ethereum's TVL is about $45.4 billion, still maintaining the lead. However, Solana, BNB Chain, Bitcoin, Tron, Base, and HyperLiquid are respectively diverting markets in scenarios such as DEX, stablecoin settlement, BTCFi, consumer entry points, and perpetual contracts. The challenge Ethereum faces is to continue to hold its position in settlement and custody layers while competing for users with specialized chains.