Today, Ethereum has $180 billion in DeFi TVL, but its dominance has fallen still further to 66.5%. I would argue that the dominance number is less important in the short term, as Ethereum looks to scale tremendously with the help of Arbitrum, Optimism, Polygon and more. The idea that these other chains are “Ethereum killers” appears to be false, as Ethereum TVL grew almost 9x, while its native token only grew 5.9x.
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