Ethereum DeFi ecosystem suffers contraction, TVL down to $47 billion in 2024

As of 2024, Ethereum's DeFi ecosystem sees its total value locked (TVL) plummet to $47 billion, a staggering drop from its peak of $110 billion in 2021, despite a relatively modest 20% decrease in Ethereum's price since then. With Ethereum still commanding the largest share, the DeFi landscape is becoming more diverse, with blockchains like Tron and Solana gaining ground. But what surprising factor is causing Ethereum's TVL to lag so far behind despite its dominant position? Discover the unexpected...

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