Data: The TVL of liquid staking has dropped to a two-year low, with the total scale in Q2 decreasing to 33.4 billion USD

According to data from CryptoRank.io, the total TVL of global liquid staking protocols fell to $33.4 billion in the second quarter of 2026, a decrease of 56.1% from the historical high of $76 billion in the third quarter of 2025, marking three consecutive quarters of decline.

Specifically, the fourth quarter of 2025 was $61.4 billion, the first quarter of 2026 was $45.2 billion, and the second quarter further dropped to $33.4 billion. The liquid staking sector continues to face pressure, reflecting that the overall DeFi ecosystem is still in a weak cycle.