Data: In 2026, the total value locked in DeFi fell by 39% cumulatively, while TRON and Hyperliquid bucked the trend and grew.

ME News, June 24 (UTC+8), CryptoRank's latest report shows that the total value locked (TVL) in DeFi has declined for six consecutive months, dropping from approximately $115 billion in January 2026 to about $70 billion currently, a cumulative decline of 39% within the year, 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 approximately $942 million. Among them, 85 attacks occurred in the second quarter, resulting in losses of about $775 million, making it one of the most attacked quarters on record. The attacks on Drift Protocol ($295 million) and KelpDAO ($293 million) in April together account for more than half of the year's losses.

Among the top ten public chains by TVL, only TRON and Hyperliquid achieved positive growth. Among them, TRON's TVL grew by about 5% within the year, mainly supported by USDT transfers, stablecoin settlement, 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 noted that the current DeFi downturn cycle is significantly milder than the 2021-2022 cycle. At that time, DeFi TVL plummeted by more than 70% in seven months, whereas current funds are flowing more toward stablecoins, RWA, derivatives, infrastructure, and other tracks, with the market structure being more diversified and mature compared to the previous cycle. (Source: ChainCatcher)