blockchainreporter.net
This week, the total value locked (TVL) in the top 10 blockchain chains has been revealed, with Ethereum leading the pack. According to data from DefiLlama,holds the top spot with a significant $61.14 billion locked in its ecosystem. This significant lead showcases Ethereum’s dominance in the DeFi space.
Ethereum Dominates, But Tron’s $8.20B TVL Shows Strong DeFi Usage
After Ethereum, Tron ranks second with a TVL of $8.20 billion. Although the numbers suggest that Ethereum dominates Tron in every aspect, the metrics of Tron show good user interaction and usage of its DeFi services. BSC occupies the third place with $ 5billion in TVL, which demonstrates its continued relevance as a preferred platform for dApps and services.
Solana and Arbitrum complete the top five chains. Solana that is known for its high speed of transactions has a TVL of $4.152 billion, while Arbitrum, a layer-2 scaling solution for Ethereum, holds $2.874 billion. They both show the expansion and diversification of the DeFi market and its products.
Blast and Base Enter Top Ten with Strong TVLs
Others like Blast and Base have also not lagged behind, with TVLs of $1.971 billion and $1.59 billion, respectively. This places them in the top ten, which points to a growing trend in blockchain platforms.
In the last place, Merlin and Bitcoin with a billion dollars of TVL. Merlin has $1.182 billion, and Bitcoin has $1.068 billion of the capital locked into its ecosystem. Polygon rounded out the top ten with $867.41 million, retaining its presence among the leading DeFi platforms.