Since the beginning of the year, Ethereum's share of the total value locked in DeFi has fallen from 63.5% to approximately 54%. Its closest competitors haven't reached 7%, but blockchains are increasing their share by focusing on specialization, CryptoSlate noted.
For example, BNB Chain serves Binance-related flows, Tron serves as a stablecoin settlement system (dominated by USDT), and Solana occupies a niche as a high-performance general-purpose trading platform.
Since the beginning of the year, Ethereum's share of the total value locked in DeFi has fallen from 63.5% to approximately 54%. Its closest competitors haven't reached 7%, but blockchains are increasing their share by focusing on specialization, CryptoSlate noted.
For example, BNB Chain serves Binance-related flows, Tron serves as a stablecoin settlement system (dominated by USDT), and Solana occupies a niche as a high-performance general-purpose trading platform.