Ethereum, Tron, and Solana are on the frontline in terms of TVL, although other blockchains have also left some impact. The DeFi space is growing slowly, and specific blockchains are starting to become market leaders. The TVL denotes the amount of capital invested in a blockchain’s DeFi solutions and thus reflects market confidence and participation.
Ethereum: The DeFi Powerhouse
Ethereum remains dominant, with the TVL at $48.045B, controlling 54.98% of the Defi market. Praised for its stability and the number of protocols supported ( currently 1,205), Ethereum remains the most popular choice for developers and users. However, the TVL dipped slightly by 0.67% daily; nevertheless, Ethereum surged 2.40% weekly and a humongous 7.69% monthly.
Tron: The High-Traffic Challenger
Tron comes second with a TVL of $ 6.888B. Tron is famous for its high transaction throughput and low fees, which attracted active addresses (1.97M) under 34 protocols. However, with monthly and weekly statistics, Tron has a strong user base, but the weekly balance deteriorated by 3.31% over the week, and the TVL fell by 9.47% per month. The network, however, marked a 0.19% daily increase, meaning that the situation might be gradually stabilizing.
Solana: The Fast-Growing Contender
With third place, Solana attracted $ 6.084B of the TVL, participates in 172 protocols, and has more than 4.225M active addresses due to the high speed and low transaction costs, massive adoption in areas such as NFTs and DeFi on Solana. However, Solana saw a decrease in its TVL in the last 24 hours, which stood at -0.64% and a weekly decline of -6.01%. However, Solana had a monthly increase of +20.11%, which hints at heightened activity in its ecosystem.
BSC (Binance Smart Chain) and Base: The Rising Stars
BSC currently ranks fourth with a TVL of $4.548B in 806 protocols. Many people use it; currently, 909,752 addresses are active and considered the cheaper counterpart to Ethereum. The base takes fifth place with the TVL of $2.5B and 1.42M active addresses. This Ethereum Layer-2 solution, started by Coinbase, recorded a TVL increase, showing positivity in adoption and use as a scalable infrastructure within the Ethereum blockchain.
Arbitrum, Bitcoin, and Polygon
Arbitrum comes in sixth place with the TVL of $2.369B and the participation of 462,530 addresses in 721 protocols. Being one of the most well-known Ethereum Layer-2 scaling solutions, it fell by 0.27% within a day but increased by 1.53% within a week and gained 0.30% within a month. Meanwhile, Bitcoin DeFi continues growing with a TVL of $2.26B and 819,093 active addresses, and applications like Stacks allow smart contracts.
The Layer-2 Ethereum solution, Polygon, has a TVL of $1.187B across 581 protocols with 497,573 active addresses.
Avalanche and Sui: The Emerging Blockchain
Recognized for its velocity and growth capability, Avalanche has a TVL of $1.013B and has 410 protocols and 34,708 active addresses.
Closing the top 10, Sui has a $1.012B TVL. Although Sui has been slightly up by 0.25% in daily trading and a healthy 9.43% during weekly trading, it has had a slight tumble in monthly trading.
The current rankings of the ten biggest blockchains in TVL provide a good picture of the DeFi market. As DeFi progresses to the next stage in evolution, these blockchains will play an exceedingly significant role in the future of financial services, with each leading in its specific niche and expected growth rate.
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