Total Value locked, or TVL, is one of the crucial DeFi metrics to measure the success of individual projects and blockchains. While no network will rival Ethereum on that front, other chains are making big power plays. That growth occurs primarily due to cross-chain exploration and new native solutions coming to market.
One of the most prominent blockchains of DeFi today is Fantom. More specifically, its TVL has risen by 319% in 30 days, bringing the total to $5.7 billion. That still makes it a minor network for Total Value locked, but one cannot ignore such explosive growth. Fantom is making moves thanks to projects such as AnySwap, Geist, and SpookySwap attracting more suers and liquidity.
A lot has been said about Avalanche these past few months, and the ecosystem attracts many DeFi enthusiasts. Its faster network makes for an appealing ecosystem to build decentralized finance solutions. Projects such as Aave, BenQi, and TraderJoe wouldn’t be where they are today without Avalanche, as its TVl has risen to $8.4 billion after this month’s 141% increase. Very strong growth that may not slow down any time soon.
It is remarkable to see Solana make inroads in DeFi today. The blockchain has tremendous potential for DeFi, NFTs, and even blockchain gaming. Its DeFi TVl has risen by 48% to $12.2 billion, which is rather impressive. Solana is home to projects such as Serum, Saber, and Raydium, although more DeFi ventures may explore cross-compatibility in the future.
Although few people seem aware of Celo and its DeFi capabilities, the Total Value Locked on this chain has risen rapidly. A monthly 25% increase is excellent, and it brings the total TVL to over $1 billion. Projects including Moola, UbeSwap, and PoolTogether all do their part to bring more users to this blockchain.
The name Terra will ring a bell for many DeFi enthusiasts. The ecosystem houses TerraSwap, Anchor, and other ventures contributing to its $9.7 billion in TVL. As this number keeps going up, Terra should surpass $10 billion in Total Value locked by next month. An interesting development, as only three other chains or networks have that amount of liquidity today.
Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]