This week, Ethereum continues to reign supreme in the decentralized finance (DeFi) sector with a total value locked (TVL) of $52.864 billion, representing 60% of the market share. This significant lead solidifies Ethereum’s position as the top platform for DeFi activities.
Tron has secured the second spot with a TVL of $7.429 billion, as reported by DefiLlama. BSC closely follows with a TVL of $4.358 billion, showcasing its continued presence in the DeFi space.
Solana has also seen positive results with a total value locked of $4.35 billion, establishing itself as a reliable and sought-after platform. Arbitrum, an Ethereum scaling solution, holds the fifth position with a TVL of $2.641 billion, playing a crucial role in Ethereum’s growth.
Avalanche rounds up the top ten with a TVL of $1.341 billion. Base follows closely with $1.186 billion, indicating its gradual rise in the DeFi market. Bitcoin, serving as a store of value, boasts a TVL of $835.21 million within its DeFi applications.
Polygon reports a Total Value Locked of $802.87 million, while Avalanche holds a TVL of $727.07 million, solidifying its position as one of the most efficient and usable blockchains.
These ten projects highlight the diversity of the DeFi market, with platforms continuously innovating to attract more value. Competition remains fierce, pushing each project to enhance their services for better outcomes and wider adoption.