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

1 Aug, 20222 min readEthereum
Ethereum, BNB Chain, or Tron – What do the latest TVL figures tell us

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.

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.

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.

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