Base has moved ahead of Solana in decentralized finance, with total value locked now putting the Coinbase-backed layer 2 network in second place. A post on X placed Base’s TVL at $5.76 billion when the flip happened. Solana, often treated as Ethereum’s main challenger, is now one rung lower.
The lead and the latest numbers
Base first passed Solana on or around October 10, 2026, and it has held the lead since. As of November 10, 2026, research data put Base’s TVL at about $5.664 billion, down 1.24% in 24 hours. Solana’s TVL was about $4.989 billion, down 2.08% over the same period.
The year-to-date gap is starker. Base’s TVL rose roughly 28% through early November 2026. Solana’s fell about 36% over that stretch. That kind of split suggests money is not just rotating between chains, but also leaving Solana’s DeFi market, at least for now.
Why Base is moving up
Base’s rise has been tied to three things: inflows into lending protocols, steady stablecoin activity and support from Coinbase’s wider business. Lending platforms, in particular, have pulled in fresh deposits after improvements, and those deposits show up directly in TVL. Stablecoin usage has also helped keep Base busy. I think the Coinbase connection matters too, since it gives users a familiar on-ramp.
Solana’s pullback has been linked to falling asset prices and net capital outflows. That does not mean the chain is idle. Trading volumes and user engagement still beat Base in several areas, and TVL is only one measure. It tracks money parked in protocols, not how busy a chain is.
History and what to watch
The October crossover marked the first sustained period since 2023 in which an Ethereum layer 2 has outranked Solana on TVL. Base now sits above BNB Chain and Solana. It still trails Ethereum by a wide margin. Ethereum holds over $41 billion in TVL, more than seven times Base’s total.
Perhaps the more useful question is whether Base can keep the lead if lending inflows slow or stablecoin activity cools. Solana’s activity numbers remain strong, so the ranking could shift again. For now, though, the TVL table has a new No. 2.
