Recent Developments in Decentralized Finance (DeFi)

The decentralized finance (DeFi) sector has recently been making noteworthy shifts. According to data from DefiLlama, Ethereum, Solana, and Bitcoin have led other blockchains in the market concerning total value locked (TVL) over the past 7 days. The DeFi analytics platform’s list of top blockchains based on TVL also includes Binance Smart Chain, Tron, Berachain, Base, Arbitrum, Sui, and Avalanche.

Ethereum ($ETH) Remains Atop Blockchains with Staggering $50.918B in TVL

DefiLlama’s data shows Ethereum ($ETH) as the top blockchain when it comes to total value locked. Over the recent seven days, the blockchain has experienced a 13.87% decline. Following this, its TVL has reached the $50.918B mark. Subsequently, Solana ($SOL) has secured the 2nd position among the top blockchains with its TVL reaching $7.397B and recorded an 11.74% decline over the week.

The 3rd rank is taken by Bitcoin ($BTC), with its total value locked standing at $5.754B, showing a 12.14% change. Following that, Binance Smart Chain ($BSC) ranks 4th in total value locked at $5.133B, indicating a 9.45% dip. Additionally, Tron ($TRX) enjoys the 5th spot with its TVL touching $4.434B and experiencing a 15.13% downturn.

Avalanche ($AVAX) Comes Last in List with TVL Accounting for $1.133B

The next top blockchain on DefiLlama’s list is Berachain ($BERA), with a current TVL of $3.292B, signifying a 0.52% weekly upsurge. Additionally, Base ($BASE) has a TVL of almost $2.909B, accounting for an 11.81% change over 7 days. The top 8th blockchain is Arbitrum ($ARB) with $2.578B in TVL, presenting a 12.98% weekly plunge. Furthermore, Sui ($SUI) has experienced a 9.49% slump to reach approximately $1.343B. Finally, Avalanche ($AVAX) ranks last among the top blockchains based on TVL, accounting for a 10.13% 7-day decrease, reaching $1.133B.