Ethereum's DeFi Market Share Slides from 63.5% to 54% as Rival Chains Carve Out Specialized Roles

Ethereum's share of total DeFi TVL has compressed nearly 10 percentage points since the start of 2025, falling from 63.5% to roughly 54% as of May 7, according to DefiLlama. At $45.4 billion in absolute TVL, Ethereum's position remains dominant in raw size — but the competitive map has…