Ethereum Maintains DeFi Dominance As User Activity Shifts Across Blockchains

• Ethereum maintains DeFi dominance with highest TVL and bridged capital.
• Solana leads in user count but shows short-term engagement volatility.
• Emerging chains like Sui see strong growth despite low current usage.

Ethereum continues to lead the blockchain space in decentralized finance (DeFi) activity, liquidity, and bridged capital, even as user engagement shifts across multiple networks. The latest cross-chain activity rankings display a combination of steady leadership by Ethereum and growing momentum among emerging and Layer-2 networks, with usage metrics showing both gains and declines depending on the chain.

Ethereum recorded 450,397 active addresses in the last 24 hours, showing a 1.48% increase in daily user activity. The network also showed a 1.15% gain over the past seven days and a 15.29% increase over the month. Ethereum leads all chains in total value locked, with $61.325 billion currently deployed in DeFi protocols. It also maintains the highest bridged asset value at $397.76 billion, a figure that reflects institutional usage and cross-chain connectivity.

Source: DEFillama

This consistent performance affirms Ethereums position as the most utilized smart contract platform, even as newer chains attempt to increase their share of the market. Its growth over the past month shows the continued retention of users and capital within the network.

Solana Leads in Active Users but Sees Weekly Dip

Solana outperformed all other blockchains in active address count, reporting 3.05 million users. However, the network experienced a 4.00% decrease in user activity over the week, despite achieving a 1.14% increase over the past month. Solanas DeFi TVL stands at $8.367 billion, and its bridged asset volume totals $42.522 billion.

This points out that while Solana continues to attract high user participation, the recent dip shows possible volatility in short-term engagement, possibly tied to protocol changes or transaction trends within its ecosystem.

Bitcoin Holds Steady on Daily Activity, Slips Monthly

Bitcoin reported 653,737 active addresses in the past 24 hours, reflecting a 0.84% daily increase. Weekly and monthly performance was less favorable, with a 2.24% decline over seven days and a 6.02% drop over the month. Bitcoins role remains distinct from other chains in the ranking, as it shows no bridged value and operates largely as a base-layer settlement asset.

Despite this, Bitcoins high address activity confirms its continued value in on-chain activity, even as its DeFi participation remains minimal.

Other Networks Record Varied Activity Levels

Binance Smart Chain reported 1.55 million active addresses but recorded consistent user declines over the week and month. Tron, which had 2.4 million users, experienced a 24.94% drop in weekly activity. These figures suggest short-term user loss or migration across both networks.

The biggest gains this month were seen in Sui and Hyperliquid L1, with 75.64% and 10.63% growth respectively. The number of active addresses is unknown for both, but it is believed that their ecosystem changes and development progress are growing their businesses.

The layer-2s performance was not consistent. The number of monthly users for Base grew by almost 14%, in contrast to the 3.07% decline for Arbitrum over that period. There are currently 807 integrations connected to Arbitrum within its protocol base.

Peter Mwangi is an accomplished crypto news writer with over three years of experience. He is recognized for producing insightful, well-researched content across major crypto publications. As an expert in blockchain technology, digital assets, and decentralized finance, he can uniquely simplify complex topics into engaging, accessible narratives. His strong storytelling and analytical skills, combined with a passion for continuous learning and collaboration, make him a valuable asset to the BlockchainReporter team.