TVL has dropped nearly 40%, over a hundred hacking incidents, only TRON and Hyperliquid are rising—how can this confidence still hold up?

CryptoRank states that DeFi TVL has continued to decline this year, dropping from 115 billion in January to 70 billion, a 39% decrease. Since 2026, there have been a total of 121 hacking attacks, resulting in a loss of $942 million, with Q2 being the most active. Only TRON and Hyperliquid among the top ten public chains saw growth, while Ethereum, Solana, and Arbitrum experienced significant declines. High-frequency hacking is not the main cause, but it may weaken confidence and exacerbate capital outflows.