DeFi on Ethereum sees record TVL growth: which projects are leading the expansion?

Total value locked (TVL) in DeFi on Ethereum has grown by 30% in 2025, driven by leading projects such as Lido, Aave, EigenLayer, Etherfi, and Sky (formerly MakerDAO). These protocols are transforming decentralized finance and attracting both individual and institutional users.

The DeFi ecosystem on Ethereum is experiencing solid and sustained growth this year, with total value locked (TVL) approaching record levels by 2025. This rally, driven by key protocols such as Lido, Aave, EigenLayer, EtherFi, and Sky, reflects a recovery in the crypto market and a consolidation of Ethereum as the leading platform for decentralized finance. 

Although Ethereum's TVL has not yet reached its all-time highs, it has experienced an increase of 30% in the last month, According to data from DeFiLlama, this demonstrates renewed interest from both individual and institutional users. This article explores how these leading projects are transforming the DeFi landscape, what services they offer, and why their adoption continues to grow. It also analyzes the importance of the DeFi ecosystem within the global financial sector.

The rise of TVL on Ethereum: figures and context for current growth

The total value locked in Ethereum has shown significant growth in 2025, reaching approximately $62.590 billion, according to data reviewed by DeFiLlama. This 30% increase in the last month not only reaffirms Ethereum's dominance in the DeFi sector, with a share exceeding 53% of the global TVL of this digital financial ecosystem, but also marks a turning point after months of uncertainty and competition with other blockchains such as Solana. 

This growth occurs in a context where the Ethereum network has implemented technical improvements such as the update Spectra, which promises greater scalability, reduced fees, and improved security, elements that strengthen investor and user confidence.

Although the TVL has not yet surpassed the all-time highs of 2021, the trend indicates a solid recovery. The reduction in ETH on exchanges and the increase in self-custodial funds suggest that users prefer to keep their assets in DeFi protocols, seeking greater control and profitability. Furthermore, the influx of institutional capital, evidenced by significant movements from large investors or "whales," is driving liquidity and activity on the network, consolidating Ethereum as the preferred layer for decentralized financial applications.

Leading projects driving DeFi expansion on Ethereum

Among the protocols leading this expansion are Lido, Aave, EigenLayer, Etherfi, and Sky, each with features and services that add value to the ecosystem.

Lido It is a protocol liquid staking This allows users to deposit ETH and receive liquid tokens in return, which they can use in other DeFi applications without losing staking profitability. This eliminates the traditional wait to withdraw ETH and improves the asset's liquidity. Lido maintains a significant TVL of $23.000 billion, positioning itself as one of the largest DeFi protocols.

Aave, for its part, is a protocol of decentralized loans which has reached a TVL of $19.000 billion, representing over 21% of the DeFi market. Its platform allows users to access immediate liquidity through collateralized loans, in addition to offering innovative products like GHO, a recently launched stablecoin that expands its financial services.

In third place is EigenLayer It is a platform that allows the ETH “restaking”, allowing users to reuse their already locked assets to earn additional rewards and improve network security. It currently has a TVL of over $10.000 billion, and its integration with Etherfi is driving the adoption of liquid staking tokens, such as eETH, which facilitate rapid entry and exit from positions and the use of these assets as collateral in other protocols.

Etherfi is an emerging protocol that combines Liquid staking and native re-staking, offering users greater control over their assets and higher returns. With a TVL exceeding $6.000 billion, EtherFi is gaining traction thanks to its non-custodial approach and ability to integrate with multiple DeFi platforms, maximizing returns for depositors.

Finally, SkyMakerDAO, formerly known as MakerDAO, is a DeFi veteran that has evolved to offer new features and decentralized financial products. Its reputation and robustness continue to attract users seeking stability and confidence in their operations, allowing it to maintain a TVL of nearly $5.700 billion to date. 

The usefulness and adoption of protocols: what do they guarantee to users?

Each of these protocols offers services that respond to specific needs within the decentralized financial ecosystem. For example, Lido and Etherfi, by facilitating liquid staking, solve one of the main drawbacks of traditional staking: illiquidity. 

Aave, with its decentralized lending system, provides fast access to liquidity without intermediaries, which is crucial for users seeking financial flexibility and more complex investment strategies. 

EigenLayer, for its part, by enabling re-staking, multiplies revenue opportunities for users and strengthens Ethereum's security by incentivizing active participation in network validation. Meanwhile, Sky, with its focus on stability and decentralized governance, offers a safe haven for those seeking to minimize risk in a volatile market, while maintaining a robust system for issuing stablecoins and other financial products.

The adoption of these projects is guaranteed by their ability to offer innovative, secure, and cost-effective solutions, in addition to their support from active communities and committed developers, which strengthens user trust and retention.

Ultimately, Ethereum's TVL boom and the leadership of key projects are laying the groundwork for a future where decentralized finance is an essential component of the global financial system.

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