The post Bitcoin Enters Top 10 Chains by Total Value Locked (TVL), Eyes Higher Rankings appeared on BitcoinEthereumNews.com.

DefiLlama, a leading platform providing transparent analytics in the decentralized finance (DeFi) space, has announced that Bitcoin has climbed into the top 10 chains by total value locked (TVL). Bitcoin now occupies the 9th spot with a TVL of $1.146 billion. This achievement places Bitcoin just about $400 million away from reaching the 6th position on the list. Currently, Base is on the 6th spot which has 276 protocols. Top 10 Chains by TVL today. Bitcoin is now in the top 10 at 9th place, just about $400 million from reaching as far as the 6th spot pic.twitter.com/ycKxfokegQ — DefiLlama.com (@DefiLlama) May 18, 2024 Ethereum Leads DeFi Market, Bitcoin Makes Significant Entry into Top 10 Ethereum continues to dominate the chart, leading by a significant margin with a TVL of $55.173 billion. Following Ethereum are Tron with $8.753 billion and Binance Smart Chain (BSC) with $5.247 billion, securing the 2nd and 3rd spots, respectively. Solana and Arbitrum round out the top five with $4.695 billion and $2.763 billion in TVL. Here is the detailed list of the top 10 chains by TVL: Ethereum: $55.173 billion Tron: $8.753 billion Binance Smart Chain (BSC): $5.247 billion Solana: $4.695 billion Arbitrum: $2.763 billion Base: $1.574 billion Blast: $1.569 billion Merlin: $1.205 billion Bitcoin: $1.146 billion Avalanche: $990.46 million Bitcoin’s entry into the top 10 is a significant milestone, indicating growing interest and investment in its DeFi ecosystem. As Bitcoin continues to gain traction, it could potentially surpass other chains, given the current momentum. Bitcoin’s DeFi Surge Highlights Shifting Trends in the Crypto Landscape The achievement underscores the evolving dynamics in the DeFi landscape, where traditionally non-DeFi-centric blockchains like Bitcoin are now making substantial inroads. This trend highlights the increasing versatility and adoption of Bitcoin beyond its original use case as a store of…

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Filed under: News - @ May 19, 2024 9:02 pm