Ethereum’s TVL drops, trading price tumbles: what’s next?

Increasing volatility in the market has dragged the TVL of leading blockchains to lower levels; when writing, the total value locked of Ethereum on Ethereum was comparatively lower than that recorded a month ago.

The locked value of decentralized exchanges registered a staggering decline of 23% in the last month, and among the losers in TVL, Ethereum stands at the top, falling to $90 billion in February.

CoinMarketCap’s data notes that Ethereum had a TVL of $121.26 billion, which is down by 10.33% in the past 30 days, including Ether chain; the total value locked of Tron and Solana also fell significantly.

With around 60% dominance in terms of TVL, the Ethereum chain has 1426 projects, BSC has 888 projects, and Arbitrum has 804 projects. At the same time, the total value locked of all blockchains is $173.7 billion, which was recorded above $210 million in January 2025.

It is worth noting that with the decline in TVL, Ethereum trading prices also suffered and mirrored a massive loss of roughly 21% in the past 30 days, and in the 52-week time frame, the prices are down by 43%.

Over the months, Ether’s price has continued to tumble in the range between $1,999 to $4,100 and failed to establish any new all-time high; its ATH is $4,891, which was recorded on November 16th, 2021.

At the time of writing, it was trading at $2,178, its market capitalization was $262.8 billion, which is down by 5% intraday, and volume is $21.18 billion with a decline of 2.69%.

Several factors are held responsible for the decline in the total value locked of the blockchain, yet one major factor is the fading interest of crypto staking, with growing interest in products like exchange-traded funds and options. 

The data available on Defillama underlined how the TVL of liquid staking is falling; the Lido ecosystem has the highest TVL with its function over five chains; however, its TVL is $20.3 billion, which is down by 21% in the past 30 days, and fell around 6.58% in the past 24 hours.

Jito, Infrared Finance, and Rocket Pool also mirrored a severe outflow in TVL, and the user base over these platforms also reached a new low. 

Solana, Near Protocol, Jito, Ronin, Mina, and Flow are the top-staking crypto tokens by market cap. The fade in users’ interest in crypto staking might create a buzz in the market with a little decline in trading prices and market capitalization.

In the initial days, staking services gained significant traction, but user interest continued to fade with the launch of several more featured applications and services.