Total value locked in decentralized finance falls for eight straight months amid broader crypto market correction.
Total value locked in decentralized finance has declined 39% year-to-date, dropping from $115 billion in January to $70 billion. The downturn follows a broader crypto market pullback after Bitcoin peaked above $122K in October 2025 and total market capitalization hit $4.21 trillion.
TRON and Hyperliquid were the only top-10 chains to post TVL growth in 2026, rising approximately 5% and 7%, respectively. The decline reflects sustained weakness across most major DeFi ecosystems as investor sentiment remains subdued.