TVL Rankings: Ethereum, Tron, and Solana Are on the Frontline

Ethereum, Tron, and Solana are on the frontline in terms of TVL, although other blockchains have also left some impact.

The total value locked (TVL) in decentralized finance (DeFi) protocols across multiple blockchains has seen changes in the last 24 hours, with some showing gains and others facing dips. Here's a quick overview of the top 10 blockchains by TVL, as per the latest data from DefiLlama.

1. Ethereum (ETH): Despite a slight decrease in TVL by 0.67% in 24 hours, Ethereum continues to lead the blockchain rankings with a TVL of $48.045B, dominating 54.98% of the Defi market. Known for its stability and hosting a vast number of protocols (currently at 1,205), Ethereum remains a top choice for developers and users. However, in the last 24 hours, the TVL in Ethereum has seen a dip.

2. Tron (TRX): Coming in second is Tron, with a TVL of $6.888B. Famous for its high transaction throughput and low fees, Tron houses 34 protocols and boasts 1.97M active addresses. While Tron maintains a strong user base, as seen in the monthly and weekly statistics, the daily statistics show a different story.

3. Solana (SOL): In third place, Solana attracted a TVL of $6.084B, participating in 172 protocols and garnering attention due to its high speed and low transaction costs. This led to massive adoption in areas like NFTs and Solana's Defi. However, Solana saw a decrease in its TVL in the last 24 hours, which stood at -0.64%.

4. BSC (Binance Smart Chain): Currently ranking fourth is BSC, with a TVL of $4.548B across 806 protocols. Many utilize BSC as a cheaper counterpart to Ethereum, with 909,752 active addresses.

5. Base: Taking fifth place is Base, with a TVL of $2.5B and 1.42M active addresses. This Layer-2 solution on Ethereum, spearheaded by Coinbase, saw an increase in TVL, indicating positive adoption and use as a scalable infrastructure within the Ethereum blockchain.

6. Arbitrum: In sixth place is Arbitrum, with a TVL of $2.369B and the participation of 462,530 addresses in 721 protocols. Being one of the most well-known Ethereum Layer-2 scaling solutions, it fell by 0.27% within a day but increased by 1.53% within a week and gained 0.30% within a month.

7. Bitcoin (BTC): Continuing to grow in the Defi space is Bitcoin Defi, with a TVL of $2.26B and 819,093 active addresses. Applications like Stacks allow smart contracts to be built on Bitcoin, enabling protocols to be deployed on the Bitcoin blockchain.

8. Polygon (MATIC): Another Layer-2 Ethereum solution, Polygon, has a TVL of $1.187B across 581 protocols with 497,573 active addresses. Defi protocols on Polygon saw a decrease in the last 24 hours.

9. Avalanche (AVAX): Recognized for its speed and growth capability, Avalanche has a TVL of $1.013B with 410 protocols and 34,708 active addresses.

10. Sui (SUI): Closing the top 10 is Sui, which saw a slight increase in TVL by 0.25% in 24 hours. Although Sui is up by a healthy 9.43% in 24 hours in weekly trading, it had a slight tumble in monthly trading.

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