DeFi TVL Falls Below $90B as Morpho Gains While Lido and Aave Lose Liquidity

Decentralized finance is seeing another shift in capital as total value locked falls below $90 billion and investors move liquidity between major protocols. DeFi TVL stood near $87.8 billion on October 26, down roughly 1.8% over 24 hours, according to DefiLlama. The broader decline is being led by large protocols including Lido and Aave, while Morpho has moved in the opposite direction with one of the strongest weekly inflows in DeFi. Trading activity has weakened as well. Decentralized exchanges generated roughly $44.1 billion in seven-day volume, down more than 12% week over week.