Ethereum Leads TVL Rankings Despite June Decline in User Activity

Ethereum, Solana, and Bitcoin are the top three blockchain networks by total value locked (TVL), despite a general decline in user activity across the crypto market in June 2025. Ethereum, with 1,379 protocols and 349,000 active addresses, maintains a dominant position in the DeFi space with $57,665 billion in TVL and $375,624 billion in bridged TVL. It also holds $126.687 billion in stablecoins and has a daily DEX volume of $1.45 billion.

Solana has surpassed Ethereum in daily active addresses, with 3.1 million users. It has a DeFi TVL of less than $8 billion, a bridged asset of nearly $37 billion, and a stablecoin of more than $10 billion. Its 24-hour DEX volume is $1.697 billion, overtaking Ethereum. Bitcoin, while not traditionally a DeFi hub, has 658,427 active addresses and a TVL of $6.225 billion. It maintains a daily DEX volume of $720,617.

Base and Arbitrum, Ethereum Layer-2 chains, show significant DeFi activity despite user decay. Base has 540 protocols and 1.91 million active addresses, with a DeFi TVL of $3.571 billion and a bridged TVL of $15.173 billion. Arbitrum has 809 protocols and 318,756 active addresses, with a DeFi TVL of $2.297 billion and a 24-hour DEX volume of $530.65 million. Tron, however, experienced sharp declines, with a 30-day drop of -36.68% in active addresses, but still maintains a TVL of $4.28 billion.

Newer chains like Sui and Hyperliquid are defying bearish trends. Sui has 67 protocols and a DeFi TVL of $1.638 billion, with a daily DEX trading volume of $221.62 million. Hyperliquid, the only chain showing growth, increased its active addresses by 26.51% month-on-month. It has 41 protocols, a DeFi TVL of $1.614 billion, and a 24-hour DEX volume of $377.43 million.

Avalanche, closing the list of the top 10, has 449 protocols and 99,388 active addresses. It maintains a DeFi TVL of $1.376 billion, a bridged TVL of $5.914 billion, and a DEX volume of $116.17 million. Its strong network is attributed to subnets and robust infrastructure.

The TVL rankings reflect the competitive dynamics within the blockchain industry. Ethereum's leadership is supported by its smart contract capabilities and extensive developer ecosystem. Solana's rise in active addresses indicates its potential to challenge Ethereum, particularly with its high-speed and low-cost transactions. Bitcoin's enduring popularity as a store of value reinforces its role as a foundational asset.

The decline in user activity across various networks mirrors broader market sentiments and global tensions. However, Ethereum, Solana, and Bitcoin continue to lead the TVL rankings, demonstrating their resilience and adaptability. Their unique strengths—Ethereum's smart contract capabilities, Solana's transaction efficiency, and Bitcoin's store of value appeal—collectively shape the competitive dynamics of the industry.

As the blockchain landscape evolves, these top chains are poised to maintain their leadership positions, driving innovation and adoption in the digital asset space. The performance of these chains underscores the importance of innovation and user adoption in the blockchain industry, with each network bringing unique strengths to the ecosystem.