Ethereum, BNB Chain, or Tron – What do the latest TVL figures tell us

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12w ago2022-08-01

From the east to the west, from the north to the south, from NFTs to Decentralised finance (DeFi), the negative impact of the crypto-winter has been undeniable.

in fact, according to DefiLlama, the DeFi ecosystem registered a 69% decline in total volume locked (TVL) on protocols across all chains in the first half of the year. However, on the back of a bullish retracement of late, an uptick has been spotted across the TVLs of major protocols. With a figure of $89.06 billion at press time, the market’s TVL has grown by 18% in the last 30 days alone.

Now, how have the three leading chains – Ethereum, BNB Chain, and Tron – fared?

A tale of 3 chains

With a TVL of $57.21 billion, the Ethereum Network enjoys more than half (64%) of the entire TVL market share of $89.06 billion. In the first half of the year, the network noted a 69% decline. At the end of the second quarter, TVL on Ethereum stood at $46.11 billion.

With the last 30 days marked by a growth in TVL, the Ethereum network logged a 19% hike during this period. With a TVL of $8.56 billion, MakerDAO prides itself as the number one protocol housed on the Ethereum Network. In H1, its TVL fell by 58%. After seeing some correction, it grew by 10% in the last 30 days. 

Source: DefiLlama

BNB Chain trails Ethereum as the network with the second highest TVL.  The chain holds a 7.5% ($6.86 billion) share of the entire market’s TVL. In H1 2022, TVL on the network declined by 62%. By 30 June, this was $6 billion. Also seeing gains in the last 30 days, TVL on the BNB Chain grew by 14%. 

With $3.15 billion in TVL, PancakeSwap has the highest TVL on the BNB Chain. After declining from $5.53 billion to $2.95 in H1, the protocol’s TVL made some recovery in the last 30 days. It grew by 7% over the said period. 

Source: DefiLlama

Furthermore, Tron follows the BNB Chain with a TVL of $5.9 billion. In the first two quarters of the year, the Tron network recorded a 32% drop in its TVL. Seeing the most gains in the last 30 days, the network’s TVL grew by 49%.

JustLend, the leading protocol on the network, also grew its TVL by 62% over the same period.

Source: DefiLlama