Ethereum DeFi Total Value Locked Jumps 33% to $62.4 Billion in Q2 2025

Blockchain analytics firm Messari has reported a significant resurgence in the Ethereum Decentralized Finance (DeFi) ecosystem, with its Total Value Locked (TVL) increasing by 33% to reach $62.4 billion in the second quarter of 2025. This rebound signals a strong recovery for the leading DeFi blockchain following a challenging first quarter. In a recent social media post, Messari highlighted the top performers driving this growth:

"Ethereum DeFi TVL up 33% to $62.4 billion in Q2: 🥇@aave:⬆️56% to $22.3B 🥈@eigenlayer:⬆️39% to $11.7B 🥉@sparkdotfi:⬆️66% to $3.5B"

Aave, a prominent lending protocol, maintained its leading position by growing its TVL to $22.3 billion, demonstrating robust demand for decentralized lending and borrowing solutions. Similarly, restaking protocol EigenLayer saw its locked capital rise to $11.7 billion, solidifying its role in the evolving DeFi landscape. Spark, an emerging player, recorded an impressive increase to $3.5 billion, reflecting growing user adoption and liquidity on the platform.

Ethereum further cemented its lead as the primary DeFi blockchain, expanding its share of the total DeFi TVL from 52% to 56% by the end of Q2. This growth reflects improved market conditions and a renewed confidence in the Ethereum ecosystem. The increase in TVL also suggests a broader recovery in the crypto market, which saw its total market capitalization rise by 22.1% in Q2 2025, as reported by CoinMarketCap.

The positive performance within Ethereum's DeFi sector aligns with a broader recovery across the cryptocurrency market. This growth was bolstered by increasing institutional demand and significant inflows into various crypto exchange-traded funds (ETFs). Furthermore, a more supportive regulatory environment in the U.S., with eased IRS reporting rules for DeFi platforms and relaxed banking regulations for crypto engagement, contributed to renewed investor confidence.

Beyond the direct TVL figures, Messari's report highlights other indicators of Ethereum's robust health, including a 37% rebound in ETH price during Q2 and continued growth in staked ETH. The network's ongoing evolution, marked by the Pectra upgrade in May 2025, introduced key improvements like enhanced smart account functionality and doubled blob capacity, directly benefiting Layer-2 scalability. These advancements, coupled with sustained institutional interest, reinforce Ethereum's position as a foundational layer for decentralized finance, despite persistent challenges related to transaction fees and competition.