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Top 5 Blockchains by TVL in 2024: Eth Dominates DeFi

The article highlights the top 5 blockchains in the decentralized finance (DeFi) space based on their Total Value Locked (TVL), which measures the value secured within smart contracts. The top 5 blockchains are Ethereum, Tron, Solana, Binance Smart Chain (BSC), and Arbitrum. Ethereum dominates with the highest TVL and over a thousand protocols. Tron is in second place with a focus on stablecoin operations. Solana is known for its speed and developer-friendliness but has experienced a decrease in TVL. BSC offers scalability and compatibility with Ethereum. Arbitrum is a Layer-2 solution for Ethereum, making it faster and cheaper. Notably, Bitcoin is not in the top 10 by TVL but has shown a growth of 52.82% this month, suggesting a potential role in DeFi. Ethereum remains the king of DeFi with 64.90% dominance, and monitoring these blockchains can provide insights into the future of finance.

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