By Isaac • July 16, 2026 6:01 pm •
DeFi has roughly $1.6 billion sitting in concentrated-liquidity pools without doing much of the job investors deposited it to do.
That number is real. It is also easy to misunderstand.
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A new Dune study found that about 85% of the concentrated liquidity it measured was underutilized during the first half of 2026. The stricter figure is smaller: 29.5% was fully outside its chosen price range, earning no trading fees at all.
The difference between those two numbers is the entire story.
Dune’s 22-page study, commissioned by 1inch, rebuilt positions in roughly the 200 most active pools on each of Uniswap v3, Uniswap v4, PancakeSwap v3 and Aerodrome Slipstream. It took 26 weekly snapshots from January 6
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