Ethereum anchors DeFi liquidity, holding over $93 billion in TVL with continued Layer-2 integrations driving institutional growth.
Solana and BNB Chain surge ahead, gaining market share through speed, scalability, and thriving retail participation across DEX and yield ecosystems.
Emerging chains like Plasma and Base are redefining the liquidity narrative with fast throughput, low gas fees, and strong developer activity fueling multi-chain DeFi expansion.
The decentralized finance ecosystem in 2025 has seen remarkable growth, with various blockchains recording a rise in Total Value Locked (TVL), one of the main indicators of on-chain liquidity and investor confidence.
Ethereum is still in the first position, but the contenders like Solana, BNB Smart Chain, Layer-2 Bitcoin ecosystem, and new entrants like Plasma and Base are developing and being recognized as rivals. The increasing variety in sources of TVL is an indication of how capital is flowing toward scalability, interoperability among the different ecosystems, and efficiency.
Ethereum is still the biggest DeFi network in the world with its $93.5 billion TVL that represents 56.3% of total DeFi liquidity.
Despite its mature position, Ethereum’s growth was 3% in this quarter, which is a good sign of healthy engagement in staking, restaking, and liquidity-providing activities through protocols like EigenLayer, Aave, and Lido.
EIP-7600, Layer-2 integrations (Arbitrum, Optimism, and Base), and other scaling solutions will keep Ethereum’s liquidity inflows sustainable. The Ethereum developer community and the institution-grade dApps are still making it the cornerstone of the DeFi ecosystem.
Also Read: When Could Ethereum Reach $5,000? A Realistic Timeline
Solana is one of the major winners in 2025 with its total value locked (TVL) of $13.43 billion, a monthly increase of 5.9%. The main factors behind Solana's growth are its fast transaction validation and low fees. Services like Jupiter, MarginFi, and Marinade Finance play a significant role in this growth.
A growing number of DeFi users are switching over from Ethereum to Solana due to its quicker processing and larger throughput.
In addition to young retail traders, Solana's presence in the meme coin market and DeFi yield farming has attracted the interest of institutional liquidity providers. This has positioned the network as a serious contender to Ethereum in terms of daily usage.
BNB Smart Chain (BSC) continues to be a top ecosystem for new tokens and DeFi protocols. The chain's total value locked (TVL) is currently at $25.17 billion, which is a 22.6% increase year-to-date.
The main reasons for this growth are PancakeSwap V4, Venus Protocol, and the batch of cross-chain connections, making BSC a retail DeFi participation hub.
Support from low gas fees, wide DEX coverage, and Binance's smart investments are the factors that still mostly keep inflows of liquidity, especially from developing countries where the cost of transaction is still a critical point.
While Bitcoin is traditionally viewed as a store of value, its DeFi evolution is underway. The rise of Bitcoin Layer-2 solutions such as Stacks and Rootstock (RSK) has pushed Bitcoin-based TVL to $8.89 billion, an 11.8% quarterly increase.
Bitcoin is commonly seen as a store of value, but its DeFi evolution is underway. The emergence of Bitcoin Layer-2 solutions like Stacks and Rootstock (RSK) has not only contributed to the increase of Bitcoin-based TVL to $8.89 billion but also marked an 11.8% quarterly increase.
Protocols enabling BTC staking, lending, and wrapped assets are driving this momentum. As more institutions adopt the currency and ETF inflows increase activity on-chain, Bitcoin's DeFi presence is growing quickly, which is a major change in the way BTC capital is used.
Also Read: Bitcoin Price Trades at $121,300 Following Profit-Taking from $125,800 Peak
The Plasma network has emerged as the most surprising breakout of 2025, with its total value locked (TVL) increasing to $6.33 billion, which is a 13.1% monthly rise and a 17.3% increase for the quarter.
As a high-throughput, low-fee blockchain optimized for AI and DeFi data processing, Plasma has drawn significant developer interest.
Its native stablecoin protocols and high-yield staking pools have made it a potential liquidity hub for the next generation, especially in algorithmic DeFi applications.
With a total value locked (TVL) of $6.30 billion, with a 4% quarterly rise, TRON secures its position as one of the strongest ecosystems for USDT circulation, along with its liquidity.
TRON's strategy is aimed at volatility control, stablecoin settlements, and cross-border payment infrastructure.
Due to its yield structure, it attracts not only institutional players but also fintech integrations, mainly in Asia and Africa, thus becoming one of the most distributed globally DeFi networks.
The Ethereum Layer-2 solution from Coinbase, known as Base, has a Total Value Locked (TVL) of $5.45, indicating a 12.2% growth in the last quarter. Base, with 1,800 protocols, has established itself as a premier scalability solution almost overnight.
Coinbase Wallet and USDC on-ramps have given it the status of the most favored network among the developers who want regulated, compliant access to DeFi.
Popular projects from the ecosystem, like Aerodrome, FriendTech, and Compound V4, have reinforced their view of the superior exchange-backed blockchain.
The TVL scenario in 2025 indicates a clear multi-chain situation. Ethereum is still at the forefront of decentralized finance, but Solana, BNB Chain, and Base are attracting new user segments due to their high throughput and seamless connectivity.
Among the various players, Plasma is an emerging innovator that proves disruption is still possible even in the most populated ecosystem.
As institutions continue exploring on-chain finance, RWAs, and tokenized treasuries, the future of DeFi growth will depend on real utility, transparent models, and safe cross-chain liquidity.
1. What is TVL and why is it important in blockchain?
TVL (Total Value Locked) measures the total amount of crypto assets staked or deposited in DeFi protocols, reflecting trust, liquidity, and ecosystem health.
2. Which blockchain has the highest TVL in 2025?
Ethereum leads globally with over $93 billion in TVL, commanding more than half of the total DeFi market share.
3. Why is Solana experiencing rapid TVL growth?
Solana’s low-cost, high-speed infrastructure and strong DEX ecosystem are attracting traders and developers, driving consistent liquidity inflows.
4. What makes BNB Smart Chain a top performer?
BNB Chain’s wide retail adoption, cross-chain capabilities, and Binance-backed ecosystem contribute to sustained double-digit TVL growth.
5. Are new blockchains like Plasma and Base sustainable?
Yes, if they maintain user adoption, developer engagement, and security standards, they could become long-term players in the expanding multi-chain DeFi landscape.