DeFi Ecosystem Under Collective Pressure: Mainstream Public Chain TVL Significantly Shrinks, Some New Chains Near Collapse

2026-01-08 08:10:15

【Blockchain Rhythm】 Recently, the market has been quite active, and the DeFi ecosystem has undergone significant adjustments. Data from January 8th shows that from Ethereum to Solana to Bitcoin, the TVL of mainstream public chains has been shrinking noticeably, with some emerging public chains performing even more dramatically.

Let’s first look at the established public chains. Ethereum’s DeFi TVL is now at $72.73 billion, down more than 25% from the peak of $97.3 billion in August last year. Solana is not doing much better, with a TVL of $8.86 billion, down 33% from its September peak of $13.22 billion. The Bitcoin ecosystem’s TVL is currently at $7.01 billion, a decline of over 23% from its October high of $9.12 billion. BNB Chain has fared worse, dropping from $9.15 billion to $6.797 billion, a decline of over 25%. Even Base Chain’s $4.745 billion has fallen more than 12% from its peak.

The days are even tougher for new public chains. Stable Chain has become a disaster zone — its DeFi TVL has plummeted to just $29,231, whereas it was previously over $100 million. Eclipse’s TVL is now $2.72 million, evaporating 95% from its peak in February, and the project team openly admits, “We have no users.” Berachain is similarly bleak, with a TVL of $174.11 million, down 95% from its peak of $3.306 billion in May. Plasma’s situation is slightly better; with a TVL of $3.205 billion, it has also fallen 50% from its October high, but still retains a considerable scale. Monad currently has a TVL of $283.72 million.

This round of adjustments reflects the market’s re-evaluation of the current state of the DeFi ecosystem — many new chains have limited liquidity support, and once market sentiment shifts, liquidity can dry up quickly. While the TVL of mainstream public chains is also declining, their fundamentals remain relatively stable, indicating that the market is reallocating funds and trending towards concentration on leading public chains.

ETH-7,81%

SOL-5,43%

BTC-4,65%

BNB-3,54%

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SerumSurfer

· 01-10 21:41

Here we go again, every time there's a big drop, they say the ecosystem is collapsing, and it's messing with my mindset, haha.

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MerkleTreeHugger

· 01-10 15:57

It's that time again to cut the leeks. ETH drops 25% and you still call it a correction? This is the cycle, my friends.

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WalletAnxietyPatient

· 01-09 14:55

Is it time to cut the leeks again? I knew it would be like this --- ETH dropped 25%? Laughing to death, I already sold out --- Solana this time really disappointed, 33%... I'm convinced --- The new chain is almost collapsing, why are people still rushing in --- The bear market is here, everyone, hold tight to your stablecoins --- The significant shrinkage in TVL just means everyone is fleeing --- It's that time of year again to kill DeFi --- My liquidity pool... I dare not look at my wallet --- Can't even hold up the BTC ecosystem? Truly incredible --- Just by looking at the title, you know it's time to cut losses --- The most important question now is who is still adding to their position --- DeFi is really starting to look more and more like a game of hot potato

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CryptoGoldmine

· 01-08 08:40

From the perspective of the hash power revenue ratio, this wave of adjustment is actually a window for buying the dip. The data behind this is quite interesting. ETH has fallen 25%, SOL down 33%, but the Bitcoin ecosystem has only shrunk by 23%, which indicates that the market's recognition of BTC ecosystem resilience is higher. I'm not too surprised by the "shocking" nature of the new chain; it was mainly due to insufficient technological iteration combined with inflated liquidity, which burst easily with a poke. The key is to see who can optimize hash power efficiency during this round of adjustment, rather than blindly pursuing TVL scale. It may be uncomfortable in the short term, but rationally, this is an opportunity to reallocate capital.

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OldLeekMaster

· 01-08 08:39

It's starting to plummet again, and this time there's really no bottom.

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WagmiOrRekt

· 01-08 08:38

The big Buddha is cutting leeks again. Now, I've lost my pants in two months.

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RektButStillHere

· 01-08 08:31

Another round of harvesting? ETH drops 25% and it's nothing, SOL gets cut in half, now that's really tragic.

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BrokeBeans

· 01-08 08:30

Again and again, it’s falling. ETH’s recent move is quite fierce. Did Solana get cut in half? No wonder it’s SOL. The new chains are even more outrageous, a large number have already died. This is the true picture of DeFi; bubbles will eventually burst. Wait, what about the data for BNB? Has it been eaten? It was about time for an adjustment; this wave is too crazy. Oh my God, it’s only been a few months... and we’re back to the pre-liberation era. The new chains are really a mess; I’ve lost all understanding of them. With TVL dropping like this, is it time to buy the dip? By the way, who is still holding on... Are you guys okay?

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CryptoDouble-O-Seven

· 01-08 08:28

Here comes another bloodbath, it feels like it's always the same routine... Solana drops 33%, now even Solana fans have to shut up haha The new chain nearly collapsing is really outrageous, who would still dare to participate? Will this wave of decline be another buying opportunity? Or is it safer to keep watching... Just waiting for the crazy people to scoop the bottom, but I’m not moving anyway DeFi is now too competitive, with all kinds of risks stacking up

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