Top 10 Crypto Chains in 2025 by TVL: Blockchain Leaders

The blockchain world has become increasingly competitive, with new chains emerging daily. As crypto networks battle for dominance, competition to offer higher throughput, decentralization, scale, and security continues to grow.

One of the best ways to measure the success of crypto chains and compare them against each other is through their Total Value Locked (TVL), which is the amount of capital secured in their smart contracts.

Techopedia explores the top 10 chains ranked by TVL on DefiLlama, which tracks data from more than 340 chains.

Table of Contents Table of Contents

1. Key Takeaways
2. Top 10 Crypto Chains by TVL
3. The Bottom Line
4. FAQs
5. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. Top 10 Crypto Chains by TVL
3. The Bottom Line
Show Full Guide
4. FAQs
5. References

Top 10 Crypto Chains by TVL

1. Ethereum

Ethereum is the frontrunner when it comes to smart contracts and decentralized applications (dApps). It was the first blockchain to introduce smart contracts, and over the years, it has built a large and active developer community.

As of January 2025, Ethereum’s TVL stands at around $64 billion, an increase of more than 80% year-on-year. The chain owes its high TVL to its unmatched ecosystem of 1,267 dApps like Lido, Aave, Eigen, and Ethena.

Lido dominates the liquid staking space, Aave is a leader in lending, and Eigen introduces a new crypto economic security model known as “restaking.” Meanwhile, Ethena (ENA) is a decentralized stablecoin protocol offering a synthetic dollar for DeFi and Web3 uses.

Notably, Ethereum’s ecosystem is unmatched in terms of stablecoin volume, bridged TVL, and NFT volume, outpacing competitors by a wide margin. However, it loses to Solana both in terms of 24-hour fees and active addresses as of early 2025.

Ethereum operates on a Proof of Stake (PoS) consensus mechanism following the Ethereum 2.0 upgrade. It supports Solidity-based smart contracts and offers compatibility with Layer 2 solutions like Optimism and zkSync, which reduce gas fees and improve transaction throughput.

2. Solana

Solana is a high-performance blockchain designed for scalability and speed. As of January 2025, its TVL is $8.5 billion, a 500% increase compared to the previous year, when its TVL reached as low as $1.3 billion following the collapse of the FTX exchange.

The network’s low transaction fees have attracted many users to its blockchain, boasting 5.21 million active addresses. In comparison, Ethereum has around 380k active addresses. Solana also often leads in daily fees but is in a tight match with Ethereum.

Solana uses a unique Proof of History (PoH) consensus mechanism in combination with Proof of Stake (PoS), allowing it to process up to 65,000 transactions per second. Its architecture supports parallel execution through the Sealevel runtime, enabling high throughput without compromising decentralization or security.

The chain boasts a rich ecosystem of decentralized applications (dApps) such as Jito, a liquid staking service on Solana that combines MEV rewards with staking returns, Jupiter, a decentralized on-chain swap aggregator protocol, and Marinade Finance, a liquid staking protocol.

3. Tron

As an alluring Solana alternative, Tron is also built for efficiency and affordability, making it a favorite for stablecoin transactions. As of January 2025, its TVL is $6.7 billion, down by 30% over the past year.

Similar to Solana, Tron boasts a huge user base. It has over 2.47 million active addresses, trailing behind Solana while outpacing Ethereum by a wide margin. Tron also excels in stablecoin activity, holding $59 billion in stables, representing 42% of all USDT issued, only second to Ethereum.

Tron’s ecosystem is bolstered by dApps such as SunSwap, a decentralized exchange, and JustLend, a lending protocol.

Tron operates on a Delegated Proof of Stake (DPoS) consensus mechanism, which allows for high-speed transactions at low fees. It supports smart contracts written in Solidity and offers interoperability with Ethereum through cross-chain solutions. This technical foundation ensures scalability and continuous uptime.

4. Bitcoin

Known as the first and most secure blockchain, Bitcoin has now entered DeFi through wrapped assets and Layer 2 solutions. Its TVL stands at $6.5 billion as of January 2025, representing a staggering 2,000% year-on-year increase.

With 50 protocols, 740,000 active addresses, and $715,000 in daily fees, Bitcoin is proving it is more than just digital gold. Protocols such as Stacks and Lightning Network drive this growth by enabling DeFi functionalities like lending, borrowing, and payments.

Bitcoin operates on a Proof of Work (PoW) consensus mechanism, offering unmatched security and decentralization. Its scalability has improved with the integration of Layer 2 solutions like Lightning Network, which facilitates faster and cheaper transactions by creating off-chain payment channels.

5. BNB Smart Chain

Launched by the cryptocurrency exchange Binance, BNB Smart Chain (BSC), previously Binance Smart Chain, is a blockchain network for fast and low-cost transactions. As of January 2025, it has a TVL of $5.5 billion, representing a more than 50% growth year-on-year.

With 832 protocols, BSC has the second-highest number of apps after Ethereum, making it a hub for dApps and DeFi. Its 1.43 million active addresses (third among all chains) and a stable 1.71% monthly TVL growth underscore its widespread use.

The chain’s popular dApps include Venus Protocol, a decentralized money market protocol for lending and borrowing, PancakeSwap, a leading decentralized exchange, and Lista DAO, an open-source liquidity protocol.

BSC uses a Delegated Proof of Stake Authority (PoSA) consensus mechanism, combining elements of PoS and Proof of Authority (PoA). This enables fast block confirmations and low transaction costs, making it an attractive option for both developers and users.

6. Base

Developed by Coinbase, Base is a Layer 2 solution designed to bring scalability to Ethereum. As of January 2025, it has a TVL of $3.5 billion, a significant growth since its launch in August 2024.

Despite its relatively short age, Base boasts 421 protocols, suggesting strong developer activity across the ecosystem. In comparison, Solana has 191 DeFi protocols.

Its ecosystem includes popular dApps like Uniswap and Compound and unique protocols like Aerodrome Finance, an Automated Market Maker (AMM) designed to act as the liquidity hub for the Base blockchain.

Base uses Optimistic Rollups to achieve scalability, enabling faster and cheaper transactions compared to Ethereum Layer 1. Its tight integration with the Ethereum Virtual Machine (EVM) means compatibility with existing dApps.

7. Arbitrum

Arbitrum is another Layer 2 solution for Ethereum, focusing on reducing gas fees and improving transaction speeds. As of January 2025, it has a TVL of $2.9 billion, a 25% increase from the previous year.

Its growing ecosystem includes dApps such as GMX, a decentralized exchange, and Arbitrum Odyssey, an initiative to attract more users to its network, as well as other mainstream DeFi protocols like Compound and Uniswap.

Arbitrum uses Optimistic Rollups to scale Ethereum, offering enhanced throughput and reduced fees. Its technology supports secure smart contract execution while retaining the security of Ethereum’s Layer 1, making it a preferred choice for DeFi projects.

8. Sui

Launched in May last year, Sui is a relatively new blockchain focusing on scalability and user-friendly dApps. Its TVL stands at $1.9 billion as of January 2025, up by an impressive 800% over the past year.

Its focus on instant transaction finality and high-speed transaction throughput make Sui a suitable platform for on-chain use cases like games, finance, and other real-time applications.

The chain’s top Dapps include the Suilend Protocol, which provides lending services, NAVI Protocol, Cetus AMM, and Haedal Protocol, which offers users staking solutions.

Sui uses a novel consensus mechanism called Narwhal and Tusk, which separates data propagation from transaction execution. This design allows for low-latency and high-throughput transactions, making it highly suitable for real-time use cases.

9. Hyperliquid

Hyperliquid is a performant L1 blockchain made to host decentralized finance applications. The flagship application on the chain is a decentralized perpetual futures exchange called Hyperliquid DEX, which was in the news in January 2024 after a stunning airdrop.

Perpetual contracts are a type of cryptocurrency derivative that lets traders bet on the price of an asset without actually owning it. Unlike traditional futures, they don’t have an expiry date.

As reported, Hyperliquid is currently ranked as the top DEX for derivatives. As of January 2025, it has a TVL of $1.65 billion, a remarkable growth since its launch less than a year ago.

Hyperliquid’s architecture is tailored for high-frequency trading, featuring low latency and deep liquidity. It utilizes off-chain order books with on-chain settlement to achieve high efficiency while maintaining transparency and security.

10. Avalanche

Avalanche is a blockchain built for speed and interoperability. As of January 2025, its TVL is $1.3 billion, a more than 35% increase year-on-year.

Its ecosystem includes dApps like BENQI, which offers a suite of DeFi protocols, enabling users to lend, borrow, and earn interest on their digital assets, and Aave, which has expanded its lending operations to Avalanche. The chain’s subnets allow developers to create customized blockchains, enhancing its appeal.

Avalanche uses a unique consensus protocol called Avalanche consensus, which allows for rapid finality and high scalability. Its architecture supports custom blockchain networks, called subnets, that can be tailored for specific applications or industries.

The Bottom Line

The DeFi landscape is a dynamic battlefield where chains vie for attention, users, and capital. From Ethereum’s unrivaled dominance to Hyperliquid’s surprising ascent, there’s no shortage of competition.

To gauge the health and activity of a blockchain’s DeFi ecosystem, TVL is a crucial metric. It reflects how much capital users trust to lock in protocols, which can indicate both safety and utility.

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