The TVL share of a leading lending protocol has surpassed half of the entire DeFi lending market. This is the first time since 2020 that a single protocol has reached a 50% market share milestone. From this perspective, it is no longer just a simple "market leader"—it is more like forming an irresistible "gravitational field" that continuously attracts liquidity. The market concentration reaching this level not only reflects users' confidence in its security and liquidity but also warrants observation of how this oligopoly pattern will influence the long-term development of the DeFi ecosystem.

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