Total Value Locked (TVL) is a crucial indicator of the general health and activity of blockchain networks in the field of decentralised finance (DeFi). TVL calculates the total amount of money invested in DeFi protocols, such as staking services, lending platforms, and decentralised exchanges. Early in February 2025, the DeFi industry is in decline, with a drop in TVL observed on certain blockchains. Nevertheless, despite more general market corrections, Ethereum and Solana remain at the top of the market and show resiliency.
Ethereum:
With a TVL of about $62.9 billion, Ethereum is still the clear leader in the DeFi market. Most DeFi projects are still drawn to Ethereum because of its strong infrastructure and developer community, even in the face of price fluctuation and sporadic congestion problems. Ethereum is the preferred network for DeFi applications because of the blockchain’s Layer 2 scaling solutions, such Arbitrum and Optimism, which further increase its efficiency. Staking, which locks in billions of dollars’ worth of assets, has also helped Ethereum 2.0 gain supremacy after it was completely deployed.
Solana:
With a TVL of $12.1 billion, Solana secures its position as Ethereum’s most formidable rival, taking second place. Well-known for its quick transactions and cheap fees, Solana has established a robust DeFi ecosystem that is gaining traction. Solana has recovered well from previous network disruptions, drawing liquidity providers and institutional investors searching for Ethereum substitutes. Solana keeps growing its presence in the DeFi market with projects like Marinade Finance and Solend.
Binance Smart Chain:
With a TVL of about $8.5 billion, Binance Smart Chain is positioned as a top choice for consumers looking for a cheaper transaction cost than Ethereum. DeFi projects may be easily migrated from Ethereum to BSC thanks to its interoperability with the Ethereum Virtual Machine (EVM). PancakeSwap, the network’s top decentralised exchange (DEX), loan protocols, and NFT marketplaces are the main factors driving BSC’s popularity. The ecosystem’s continuous growth and development are also guaranteed by Binance’s robust support.
Avalanche:
Avalanche has established a reputation as a high-performance and scalable blockchain with a TVL of $5.2 billion. DeFi protocols and NFT projects find it appealing because of its distinct consensus method, which enables faster and less expensive transactions than Ethereum. Trader Joe, AAVE, and Benqi are all part of Avalanche’s DeFi ecosystem, and they keep drawing in liquidity providers. Because of its customisable subnet design, the blockchain appeals to developers who want to create scalable DeFi apps.
Terra:
The Hardy Aspirant Despite previous delays and regulatory issues, Terra’s TVL remains at $4.8 billion. The blockchain is well-known for its DeFi lending platforms and algorithmic stablecoins, which continue to be in demand even during market downturns. Leading Blockchains by TVL Projects like Anchor Protocol and Mirror Finance, which give users the ability to stake and trade synthetic assets, are part of Terra’s ecosystem. The network has been able to stay relevant in the DeFi area thanks to recent integrations and upgrades.
Polygon:
The Superpower of Layer 2 As one of the top Layer 2 solutions for Ethereum, Polygon has managed to secure a TVL of $3.7 billion. Polygon has emerged as the network of choice for DeFi developers, gaming ventures, and NFT markets due to its ability to facilitate speedier and less expensive transactions. A vital component of the Ethereum ecosystem, Polygon powers popular DeFi apps like Aave, Curve, and QuickSwap. It is anticipated that Polygon’s acceptance will increase as Ethereum’s gas fees change.
Arbitrum:
Optimistic Rollup Adoption by Arbitrum has emerged as one of the leading Ethereum Layer 2 scaling solutions with a TVL of $2.9 billion. Arbitrum is appealing to DeFi protocols and liquidity providers because it uses Optimistic Rollup technology to reduce petrol prices and speed up transactions. Popular DeFi platforms like GMX and Uniswap are hosted by Arbitrum, and its increasing scalability and user experience are factors in its expanding popularity.
Sui:
A New Blockchain Technology With a TVL of $1.6 billion, Sui breaks into the top 10 list, indicating notable progress for a relatively new competitor in the blockchain market. Leading Blockchains by TVL Developers searching for alternatives to Ethereum and Solana are becoming more interested in Sui because of its reputation for excellent performance and parallel transaction processing. The blockchain’s emphasis on gaming and metaverse applications has drawn both DeFi and NFT projects, which has further fuelled its TVL growth.
Tron:
A Consistent Artist With a TVL of $1.4 billion, Tron continues to be a significant blockchain for DeFi applications and stablecoin transactions. Tron continues to be a favoured network for Tether (USDT) transactions and decentralised lending services due to its quick transaction rates and inexpensive fees. Despite competition from newer blockchains, projects like SunSwap and JustLend keep the Tron network relevant by boosting liquidity.
Hyperliquid:
Hyperliquid enters the top 10 with a TVL of $986.9 million. Despite a 24.8% drop in the last week, it remains a significant platform. Hyperliquid primarily provides liquidity for lending protocols. It also supports decentralized exchanges in the DeFi ecosystem. Leading Blockchains by TVL Further development is expected to strengthen Hyperliquid’s market position. The platform has great potential for growth in the DeFi space. Hyperliquid’s liquidity support plays a key role in decentralized finance. It continues to be a major player in the evolving DeFi landscape.
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Summary
The top blockchains by TVL show resilience despite the DeFi downturn. Ethereum and Solana remain dominant in the market. Networks like BSC, Polygon, and Avalanche continue to play vital roles. These platforms are crucial for shaping the future of decentralized finance. The DeFi industry is evolving with new developments and collaborations. Continued improvements in scaling solutions will drive innovation. TVL’s leading blockchains are key to Web3 and DeFi growth. The DeFi sector’s direction will be influenced by these top platforms.
