Data: In 2026, the cumulative total DeFi value locked fell by 39%; TRON and Hyperliquid grew against the trend

BlockBeats message, June 24 — CryptoRank’s latest report shows that DeFi’s total value locked (TVL) has been falling for 6 consecutive months. It has dropped from about $115 billion in January 2026 to currently about $70 billion, with a cumulative decline of 39% year-to-date, reflecting the ongoing adjustment after the crypto market peaked in 2025.

Data shows that since 2026, there have been 121 security incidents in the DeFi sector, with cumulative losses of about $942 million. Of these, 85 attack incidents occurred in the second quarter, resulting in losses of about $775 million, making it one of the most frequently attacked quarters on record. The attack incidents involving Drift Protocol ($295 million) in April and KelpDAO ($293 million) together account for more than half of the year’s total losses.

Among the top public chains by TVL, only TRON and Hyperliquid have achieved positive growth. Of these, TRON’s TVL grew by about 5% year-to-date, mainly supported by USDT transfers, stablecoin settlement, and borrowing and lending demand. Hyperliquid grew by about 6.7%, benefiting from its leading position in the on-chain perpetual contract market and the expansion of the HyperEVM ecosystem.

However, the report notes that this current DeFi downturn cycle is clearly milder than the 2021 to 2022 cycle. In that period, DeFi TVL fell by more than 70% within 7 months; at present, funds are flowing more into tracks such as stablecoins, RWA, derivatives, and infrastructure, and the market structure is more diversified and mature than in the previous cycle.