Base, the Ethereum layer 2 network built by Coinbase, has overtaken Solana as the second-largest blockchain for decentralized finance by total value locked.

An X post put Base’s TVL at $5.76 billion when it moved ahead. Solana, long seen as Ethereum’s heir apparent, now ranks one place lower.

Base first edged past Solana on or around October 10, 2026, and has maintained its lead since.

The numbers behind the flip

As of November 10, 2026, research data showed Base’s TVL at approximately $5.664 billion, down 1.24% in the previous 24 hours.

On the same date, Solana’s TVL was approximately $4.989 billion, down 2.08% over 24 hours.

The year-to-date figures make the contrast clearer: Base’s TVL climbed roughly 28% through early November 2026.

Solana’s TVL went the other way, declining about 36% over the same period.

Why Base is gaining ground as Solana loses it

Base’s growth has been attributed to three main factors: inflows to lending protocols, strong stablecoin activity and backing from the wider Coinbase ecosystem.

Lending protocols are another driver. Improvements to these platforms have reportedly attracted new deposits, which are reflected directly in TVL.

Solana’s decline has been linked to falling asset prices and net capital outflows.

A crossover with some history

The October crossover was the first sustained period since 2023 in which an Ethereum layer 2 network ranked ahead of Solana by TVL.

Base now ranks ahead of both BNB Chain and Solana, although it remains far behind Ethereum.

Ethereum has more than $41 billion in TVL, over seven times Base’s total.

What this means for DeFi capital flows

Solana still outperforms Base in several areas, including trading volume and user engagement.

TVL tracks the funds held in protocols, while volume and activity indicate how busy a chain is.

Source: cryptobriefing.com. Adapted by NBTC.