TVL is a crucial indicator indicating the success and prosperity of blockchain networks in the DeFi landscape.
New data from DefiLlama today listed top chains with top growth in TVL (the total value of assets locked in a specific blockchain) this week, an indicator that these networks attracted investors’ interest during the period.
Top 10 Chains by TVL
Ethereum
According to the data, Ethereum has maintained its status as the leader in the DeFi world. It is the leading network for decentralized applications. As per the data, Ethereum currently holds an $84.053 billion TVL, an increase of 17.05% over the past seven days. The rise signals growing investor confidence in the chain, indicating a surge from $57.2 billion TVL noted a month ago, on June 23.
Solana
Solana is in the second position with a $9.864 billion TVL, a rise of 8.41% over the past week. These figures show robust user enthusiasm and network utility, making Solana the chain with the second-highest capital locked and on-chain activity in the DeFi world.
Bitcoin
Bitcoin came third with a $7.056 billion TVL, a surge of 1.54% over the period. This shows Bitcoin DeFi is witnessing massive increase in growth, with its TVL has so far surged from $307 million as of January 2024 to the current level. This increase is equivalent to over 1,900% jump within the past 19 months. This indicates Bitcoin utility is tremendously increasing in the decentralized investment opportunities, a move away from its original ‘store of value’ application.
BSC
BSC is in the fourth place with a $6.734 billion TVL, an increase of 7.22% over the past seven days. This TVL reflects its strong DeFi ecosystem and capital inflows to the chain, with low fees attracting traders and resilient on-chain activity bolstering the value.
Tron
Fifth position on the list is Tron. Its TVL currently stands at $5.915 billion, an increase of 8.47% over the week, cementing its status as one of the leading five DeFi networks.
Other Leading Market Performers
Other chains with outstanding TVLs include Base, Arbitrum, Sui, Hyperliquid, and Avalanche, as stated in the data.
Base, an L2 blockchain, is in the sixth spot. Its TVL currently stands at $4.236 billion, an increase of 10.58%, making it the largest Ethereum Layer-2 solution by total value of assets locked in DeFi. Arbitrum followed with a $2.911 billion TVL.
SUI, HYPE, and AVAX also showcased their prominence in decentralized finance as illustrated in the data.
In other words, the above metrics show that these chains (ETH, SOL, BTC, BSC, TRX, BASE, ARB, SUI, HYPE, and AVAX) are decentralized finance’s core pillars.
Currently, the entire TVL of the broader DeFi market stands at $140.693 billion, an indication that the landscape is becoming a legitimate marketplace attracting institutional funds.
As reported in the data, various chain ecosystems provide distinct advantages in the market, with Ethereum is renowned for developed ecosystems of DApps and smart contract abilities. BNB is preferred for its cheaper gas fees and rapid transaction processing while Bitcoin is experiencing DeFi utility growth, and many others.