As decentralized finance (DeFi) continues to expand, understanding the top protocols by adoption is crucial. Top 7 ICO, a well-known crypto analytics platform, recently shared a list of leading Ethereum-based protocols ranked by total value locked (TVL). The list includes prominent names such as Lido, EigenLayer, Aave, Ether.fi, Maker, Uniswap, Rocket Pool, Ethena, and Spark.
Leading Ethereum Protocols by Total Value Locked
According to DeFiLlama, the total value locked in Ethereum-based assets stands at around $45 billion. Here’s a comparative look at the top DeFi protocols on Ethereum by TVL to assess their scale of adoption.
Lido Dominates in Total Value Locked
At the top of the list is Lido, boasting a TVL of $22.9 billion, with a market capitalization of $921 million. Despite a 6.91% decline in TVL over the past 30 days, Lido remains the largest DeFi protocol on Ethereum.
EigenLayer follows in second place with a TVL of $10.6 billion and a market cap of $638 million, though it experienced a 9.68% drop in TVL last month.
Aave and Ether.fi Hold Strong
Aave ranks third, with nearly $9.8 billion in TVL and a market cap of $2.07 billion. Aave has seen a slight 1.63% increase in TVL over the last 30 days, showcasing resilience in the market.
In fourth place is Ether.fi, with $5.71 billion in TVL and a market cap of $262 million, though it faced a 2.9% dip in TVL over the past month.
Maker, Uniswap, and Rocket Pool Complete the List
Maker secures the fifth spot with $5.45 billion in TVL and a market cap of $1.26 billion, though it suffered a 13.2% TVL decline. Uniswap ranks sixth with $3.5 billion in TVL and a market cap of $4.95 billion, enduring a 3.28% TVL decrease.
Rocket Pool comes in seventh, holding $2.94 billion in TVL with a market cap of $200 million, and a 6.2% decline in TVL over the last month.
Spark Rounds Out the Top 10
Binance ETH Staking ranks eighth with $2.88 billion in TVL and a notable 12.8% increase. Ethena comes in ninth with $2.53 billion in TVL and a market cap of $832 million, though it saw a 6.39% drop in TVL.
Finally, Spark rounds out the list in tenth place with a TVL of $2.09 billion, reflecting a significant 15.1% decline over the past month.