The DeFi is going through a turbulent phase with a significant decline in the total value locked (TVL) of prominent blockchains. DeFiLlama, a globally recognized decentralized finance (DeFi) TVL aggregator, has revealed the statistical details of the top blockchains past week. The report reveals top blockchains in terms of TVL include Ethereum, Solana, Tron, Bitcoin, BSC, Base, Arbitrum, Sui, Hyperliquid, and Avalanche.
Despite their significant TVL levels, the respective projects have witnessed notable slump. This shows the prevailing uncertainty across the crypto market. The plunging TVLs of the above-mentioned projects raise concerns about their near-term trajectory.
Ethereum Dominates Top Ten Chains in Terms of TVL at $64.242B
DeFiLlama’s list of top blockchains places Ethereum in the top position. The popular blockchain sees a total value locked up to $64.242B in total. The respective figure denotes a decrease of nearly 8.45% over the past seven days. In addition to this, Solana has occupied the 2nd rank as its total value locked has reached $8.587B. In line with this, the blockchain has incurred a substantial 10.07% dip over the past seven days.
Apart from that, Tron has secured the 3rd spot among the top chains with its TVL touching $7.001B. This amount accounts for an 8.49% dip seen over the week, reflecting a bearish sentiment. Subsequently, Bitcoin has gained the 4th place with its TVL reaching $6.468B. Throughout the past seven days, the Bitcoin blockchain has gone through a 4.13% slump.
Avalanche Bottoms List with $1.326B in TVL
Following that, Binance Smart Chain’s TVL stands at $5.507B, showing a 3.38% weekly decline. Additionally, Base has obtained the 6th position with a $3.507B in total value locked, accounting for a 9.55% drop. Moreover, Arbitrum and Sui have $2.926B and $1.921B in TVLs, mirroring 7.73% and 6.65% weekly plunges. Furthermore, Hyperliquid and Avalanche get the 9th and 10th places with TVLs of up to $1.43B and $1.326B, signifying 26.25% and 7.59% losses.
