DeFi TVL Distribution Shifts from Activity-Based Protocols to Balance-Sheet Infrastructure

Gate News bot message, DeFi TVL distribution has undergone a structural shift between 2021 and 2025. In 2021, top protocols were diversified across DEXs, CDPs, and yield aggregators. By 2025, TVL has become overwhelmingly concentrated in balance-sheet infrastructure.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)