The DeFi landscape is always in flux, and this week has been no exception, with several prominent blockchains seeing significant increases in their total value locked (TVL). According to data compiled by DefiLlama, Ethereum has come out on top this week when it comes to blockchain-based TVL, with Solana, Tron, and Bitcoin hot on its heels. Other blockchains in DefiLlama’s top 10 list, including Avalanche, Arbitrum, Base, Tron, and Ethereum, have also shown substantial weekly gains.
Ethereum has emerged as a clear frontrunner, with its TVL reaching a staggering $66.647B, reflecting a weekly growth of +4.42%. This growth underscores the general trend towards the increasing usage of Ethereum for decentralized finance purposes.
Solana took the second spot, despite a slight decrease. Its TVL stands at $11.844B, marking a decrease of -8.26% over the past week. However, the blockchain platform remains a major player in the DeFi landscape.
Tron, on the other hand, has seen a significant weekly increase, with its TVL hitting the $7.451B mark, a +7.38% rise. Following closely is Bitcoin, with a TVL of $7.201B, reflecting a +0.71% increase in the past week. Bitcoin’s position as the fourth largest blockchain in terms of TVL underscores its continued relevance in the DeFi sector.
Binance Smart Chain rounds out the top five with a TVL of $5.537B, despite a -1.61% decrease in the past week. This highlights the competitive and volatile nature of the DeFi space.
Further down the list, Base comes in sixth with a TVL of $3.718B, marking a +4.64% increase over the past week. Arbitrum follows in seventh place with a $3.058B TVL, reflecting a +4.47% weekly rise.
In stark contrast, Sui has seen a -8.28% weekly dip, bringing its TVL to $1.785B. Avalanche, however, has seen a +6.52% weekly growth, bringing its TVL to $1.479B.
Hyperliquid, the final blockchain on the list, has seen a significant decrease of -15.65% in its TVL, bringing it down to $1.316B. This serves as a reminder of the volatility and risk inherent in the DeFi sector.
In conclusion, while Ethereum currently dominates the DeFi landscape in terms of TVL, the positions of other blockchains are subject to rapid change, reflecting the dynamic and competitive nature of the sector.
