DeFi TVL falls each month in 2026 and is 39% lower than start of this year

The total value locked in DeFi protocols continues to decline. Every month of 2026 shows a loss, from approximately $115 billion in January to around $70 billion now. That is a drop of 39% year-to-date. The cause largely lies in the broader market correction that followed the peak in October 2025, when Bitcoin reached a new all-time high above $122.000 and the total crypto market capitalisation rose to $4.21 trillion.

Ethereum dominates, but the rest is shrinking too

Looking at the current distribution in June 2026, it is striking how large Ethereum’s share still is. Of the total $70.08 billion TVL, $38.91 billion is accounted for by Ethereum. Next come BNB with $5.12 billion and Solana with $4.93 billion. Tron stands at $4.63 billion and Base at $4.21 billion. Bitcoin itself contributes $4.20 billion, while Hyperliquid, Arbitrum, Polygon and Plasma complete the list with $1.52 billion, $1.30 billion, $1.02 billion and $784 million respectively.

The decline began after the peak of $154.2 billion in October 2025. Since then, it has been downhill, with occasional temporary stabilisation but never a real recovery. In the first months of 2026, the decline even accelerated, from $111.8 billion in December to $70.1 billion in June. These are heavy blows for a sector that was still growing strongly in 2025, even though crypto fees have dropped sharply on average in the first half of 2026.

Tron and Hyperliquid are the only growers

Amidst all the red, there are two exceptions in the top 10. Tron manages to grow its TVL by approximately 5% in 2026, while Hyperliquid even shows an increase of around 7%. The latter is striking, especially given the recent discussion about the degree of decentralisation of the platform. All other major networks in the top 10 see their TVL shrink in this timeframe.

CryptoRank shares the full analysis via their platform. The question now is whether DeFi will stage a recovery in the second half of 2026, or whether the decline will continue. Bitcoin is currently in a sideways zone around $62.000, which gives little confidence for a quick DeFi recovery in the short term. More details can be found via CryptoRank.