Morpho and Arc lead growth apps as DeFi users and liquidity shift in October

In October, DeFi liquidity fell about 7%, and DeFi protocol tokens lost 8.4% of market value over 30 days, as on-chain value moved toward Bitcoin-based protocols, Hyperliquid and Robinhood, according to CryptoRank data. Bitcoin-based DeFi protocols held $6.19 billion, up 39.19% over 30 days, while BTC traded between $80,000 and $85,000. Arc, a recently launched mainnet and liquidity application, grew its holdings by 21% to $617.8 million as of October 28, and Morpho expanded more than 3% in 30 days. Base overtook Solana as the third-largest liquidity venue behind Ethereum and Bitcoin, while leaders Lido and Aave lost notional total value locked.