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Avalanche dethrones Terra, but here’s what may be next
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Solana has been tough competition in the DeFi space, but Avalanche is looking to take it on soon. Previously, it only had Terra as a competitor since it was still far away from overtaking Solana. Interestingly, Avalanche might do that if it manages to maintain its growth on the charts.
Curiously, Solana replaced Terra to take the third spot. And now, Avalanche has pushed Terra further below as it has taken its fourth spot. Even so, Ethereum continues to dominate the DeFi space.
Top 10 DeFi chains | Source: DeFi Llama – AMBCrypto
At the time of writing, Avalanche was only $1.1 billion away from taking the third spot from Solana.
Over the month, Avalanche’s TVL has recorded a 62% growth from $8 billion to hit $13.9 billion.
Avalanche TVL |
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