The DeFi sector has seen a significant downturn this week, with top blockchains Ethereum, Solana, and Bitcoin leading in terms of total value locked (TVL), despite an overall decline, according to data from DefiLlama. Other notable chains making the top 10 list include Tron, Binance Smart Chain (BSCC), Base, Arbitrum, Sui, Avalanche, and Hyperliquid.
Currently, Ethereum holds the leading position among top chains based on TVL, with a total value locked of $62.933B, marking a 4.29% decline over the past seven days. Solana, the second in line, has a cumulative TVL of $10.252B, reflecting an 11.55% dip over the week. Meanwhile, Bitcoin maintains the third position with a TVL of $6.893B, a 3.93% decrease from the previous week.
Tron, the fourth blockchain on the list, has a TVL of $6.321B, marking a significant 15.04% drop over the past seven days. Binance Smart Chain follows in the fifth position with a total value locked of $5.417B, indicating a 1.76% decline over the week.
Coming in at sixth place, the Base blockchain has a TVL of approximately $3.073B, which represents a 15.35% weekly dip.
Moving further down the list, Arbitrum holds the seventh position with a TVL of $2.921B, marking a 3.88% decrease over the past week. Sui, in eighth place, has a TVL of $1.632B, a 7.52% dip from the previous week. Avalanche’s TVL stands at $1.366B, indicating a 7.05% decrease and Hyperliquid, at the bottom of the list in the tenth position, holds a TVL of $986.94M, a notable 24.81% decrease over the week.
These figures demonstrate the volatility and rapidly changing nature of the DeFi sector. As blockchain technology continues to evolve and mature, it remains to be seen how these trends will unfold over the coming weeks. Despite the current downturn, the DeFi sector still holds immense potential. Investors and stakeholders will be closely watching these developments, hoping for a rebound in the near future.