Ethereum is generally the most important blockchain network by most measures, but recent statistics point to trouble in the short term. Ethereum has 1,379 protocols and 349,000 active addresses.
Nevertheless, Ethereum is still a giant in terms of DeFi domination, with a whopping 57,665 billion in TVL and 375,624 billion in bridged TVL. Ethereum also holds the sum of $126.687 billion of stablecoins and had a daily DEX volume of 1.45 billion.
Solana has officially become a leader in the daily active addresses and currently boasts 3.1 million users, miles ahead of Ethereum and BSC. Solana has a significant DeFi TVL of less than $8 billion, a bridged asset of nearly $37 billion, and a stablecoin of more than $10 billion. Its round-the-clock volume in the DEX amounted to 1.697 billion dollars, overtaking Ethereum.
Although Bitcoin is not conventionally regarded as a DeFi hub, it is not far behind in terms of network activity. It recorded 658,427 active addresses, a marginal drop of 0.65% in daily usage. Although Bitcoin has only 61 DeFi protocols and 0 bridged TVL, it maintains a TVL of $6.225 billion, as well as $720,617 in daily DEX volume.
Base and Arbitrum are two Ethereum Layer-2 and high-performance chains recording a lot of DeFi activity despite user decay. Base delivers 540 protocols and 1.91 million active addresses. Nevertheless, it noted the reduction of 3.84% in daily activity and 5.23% in the week. It has a DeFi TVL of $3.571 billion, a bridged TVL of 15.173B, and stablecoins worth 4.161 billion.
Another leading Layer-2 chain, Arbitrum, keeps 809 protocols active and 318,756 addresses in action. Nonetheless, Arbitrum possesses a DeFi TVL amounting to $2.297B and a 24-hour trading volume of DEX amounting to 530.65 million.
On the other hand, Tron experienced one of the sharpest declines at a rate of -9.79 percent in a day, -10.99 percent in seven days, and -36.68 percent in 30 days. It still has $4.28 billion in TVL.
Sui recorded a daily loss of active users by 2.92% with 67 protocols. It has a DeFi TVL of $1.638 billion, a stablecoin TVL of $1.112 billion, and daily DEX trading of $221.62 million.
In the present market, the Hyperliquid L1 is the only chain going green at several time frames. It increased by an unbelievable 26.51% month-on-month in terms of active addresses. Hyperliquid has relatively few (41) protocols, but it has a DeFi TVL of $1.614 billion, a stablecoins TVL of $3.798 billion, and a 24-hour DEX volume of $377.43 million.
Closing the list of the top 10, there is Avalanche, which has 449 protocols and 99,388 active addresses. It has a DeFi TVL of 1.376 billion dollars, with a bridged TVL of 5.914 billion dollars and a DEX volume of 116.17 million dollars. Avalanche has a strong network despite the hard competition, which is due to subnets and powerhouse infrastructure.
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Author: NixCoin
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