Top Chains by DeFi TVL: Why Hyperliquid, Sui, & Avalanche Join the Top 10 List, Ethereum Maintains Lead

TVL has been a crucial indicator showing the success and health of blockchain networks within the DeFi landscape. New data reported today by market analyst DefiLlama highlighted blockchains with leading TVL growth over the week.

Top 10 Chains with Outstanding TVL This Week

Ethereum

According to the data, Ethereum has maintained its top position in the DeFi world. It is the blockchain holding the largest TVL in the decentralized trading landscape. The entire amount of resources locked in the chain currently stands at a whopping $64.34 billion. This record marks a 2.84% increase over the past seven days, reflecting increased market interest and institutional confidence in the Ethereum network.

Solana

Solana made it to the second position. As per the data, the chain currently holds a TVL of 8.535 billion, representing the aggregate amount of assets locked in decentralized projects operating on the Solana network. The blockchain’s rapid processing times, reduced transaction costs, and rising adoption of projects in its DeFi network are the main catalysts supporting its growing TVL.

Bitcoin

Third on the list is Bitcoin, an indicator that the blockchain is witnessing significant growth in terms of the value of assets locked in the decentralized network. As reported by the data, Bitcoin’s TVL currently stands at $6.293 billion, a slight reduction of 1.39% in the past seven days. This figure shows Bitcoin is experiencing heightened user interest and activity within its DeFi network. Especially, the rise of Bitcoin staking and scaling solutions brings more increased decentralized investment activity in the BTC ecosystem.

BSC

BSC clinched the fourth spot, with its TVL currently worth $6.005 billion in the DeFi sector, a small increase of 0.37% during the week. This suggests DeFi protocols on the BSC chain are attracting more funds. It is also an indicator of robust investor confidence in the Binance Smart Chain ecosystem.

TRON

Moving down, TRON settled in the fifth place, currently holding a TVL of $4.809 billion. This milestone highlights the platform’s strategic significance as a key component of the crypto world. It is recognized for facilitating efficient, rapid, and affordable cross-chain asset, staking, and digital asset services, providing users with comprehensive crypto trading solutions.

Other Project Performers

Other chains holding significant TVL this week include Base, Arbitrum, Hyperliquid, Sui, and Avalanche.

Base, a L2 network powered by Coinbase, is the sixth position with a TVL of $3.444 billion, an increase of 2.70%. This means decentralized protocols on Base now hold over $3.4 billion worth of assets, making Base that the largest DeFi network by TVL among Layer 2 networks.

Next is Arbitrum, another L2 network that made it in the seventh place with a TVL of $2.522 billion. Hyperliquid, a DEX developed on its L1 blockchain network, followed with a TVL of $1.85 billion.

Ninth on the list is Sui. The Layer 1 blockchain currently holds a TVL of $1.85 billion in the DeFi sector, reflecting rising adoption and activity in its ecosystem.

Lastly, Avalanche wrapped this top 10 list with a TVL of $1.506 billion, an indicator that the blockchain is becoming a major DeFi network.