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This week, Ethereum continues to dominate the decentralized finance (DeFi) space with a total value locked (TVL) of $52.864 billion. It accounts for 60% of the overall market. This significant lead reaffirms Ethereum’s position as the premier platform for DeFi activities.
Tron Secures Second Place with $7.429B TVL
Tron comes second on the list with a TVL of $7.429 billion according to the data presented on DefiLlama. BSC follows closely with a TVL of $4.358 billion, therefore, indicating that it is still active in the Decentralized Finance space.
Another platform that made good results is Solana with a total value locked of $4.35 billion, making it more reliable and in demand. Arbitrum, an Ethereum scaling solution, is ranked fifth on the list with a TVL of $2.641 billion as it is a vital part of Ethereum’s growth.
Avalanche Completes the Top Ten with $727.07M
Base which is another giant has a TVL of $1.341 billion. The next is Blast with $1.186 billion, which shows that it is gradually gaining more control over the DeFi market. As a store of value, Bitcoin has a TVL of $835. 21 million within its DeFi applications.
The Total Value Locked in the Polygon is $802.87. Lastly, Avalanche is with a TVL of $727.07 million, and it also contributes to the fact that it is one of the most usable and effective blockchains.
These are the ten projects that prove that the DeFi market is not monolithic and platforms are designing new features to attract more value. Competition is still present and each project is improving the services to obtain better outcomes and more people.