Ethereum DeFi TVL Drops 15% in Month to $45.6B, Share Hits 53% as Rivals Surge

Ethereum's DeFi TVL plunged 15.13% to $45.608 billion over the past month, with market share falling to 53.15% as capital migrated to Base (+7.25% share), BNB Smart Chain, Tron, and Bitcoin DeFi (+8.56%). The period opened with a 72,000% validator exit surge to 433K ETH amid $625M April hacks, low 19.8M exchange outflows, and 1.5M ETH retail selling offset by 230K whale buys. Institutional tailwinds included $8B tokenized Treasuries and $97.5M ETF inflows, but DEX volume crashed 53%, DApp revenue fell 49%, and dominance slipped below 54%, capping price near $2,350 amid multi-chain fragmentation.