From 76 billion down to 33.4 billion—this trend being cut in half again and again—should the staking narrative be rebuilt?

CoinWorld news, Wu learned that according to cryptorank data, the total value locked (TVL) of liquid staking protocols in the second quarter of 2026 fell to $33.4 billion, down about 56% from the all-time high of $76 billion set in the third quarter of 2025, hitting a nearly two-year low. Liquid staking TVL has declined for three consecutive quarters, from $61.4 billion in Q4 2025 to $45.2 billion in Q1 2026 and then to $33.4 billion in Q2 2026, reflecting that the DeFi market as a whole is still facing sustained pressure.