Ethereum remains number one in DeFi sector

Although competing blockchains such as Solana and Sui are increasingly emerging with their cheaper and faster transactions, Ethereum continues to dominate the DeFi sector with a significant advantage.

The Total Value Locked (TVL) on Ethereum's mainchain currently stands at $46.08 billion, which is significantly higher than that of direct competitors. In comparison, Solana has a TVL of $5.53 billion and Sui still remains a slight player in the DeFi world at $1.08 billion.

Ethereum's big lead is due to several factors. Its trusted network attracts developers and liquidity to the platform, and investor confidence in Ethereum's security and stability remains high. Still, more and more capital is shifting to Layer-2 solutions such as Arbitrum and Base, which offer faster and cheaper transactions, somewhat diminishing the mainchain's TVL.

Meanwhile, alternative Layer-1 blockchains such as Solana and Sui are slowly gaining traction. Although Ethereum is still clearly in the lead, the competition continues to grow and capture market share.