Biggest blockchains used in Decentralized Finance (DeFi) as of June 21, 2024
Ethereum, BSC, and Tron together made up a large majority of the DeFi industry's total value locked (TVL) in 2024. TVL is the closest metric within the DeFi world to an overall market size. The volatile nature of developments in this new market can also be seen in the transaction volume of NFT for various segments. As Ethereum is the main blockchain powering transactions for decentralized finance, price developments of this particular cryptocurrency can have a big impact on DeFi: On September 10, 2021, Ethereum's TVL decreased by over 28 billion U.S. dollars due to an overnight price drop.