Krutika Adani
Tron remains Ethereum's largest rival regarding DeFi, especially with $57 billion in on-chain stablecoins and a $8 billion TVL.
The BNB Chain isn’t very far behind at $5 billion worth of on-chain stablecoins and $4.4 billion in TVL.
Solana is an emerging Ethereum contender with a $4 billion stablecoin stash and $4.8 billion TVL.
In addition to being an Ethereum Layer 2 solution, Arbitrum challenges the former with a $4.7 billion on-chain stablecoin volume and a $2.5 billion TVL.
Base is the fastest-emerging competitor to Ethereum. In just over a year, it has secured $3.37 billion in on-chain stablecoin volume and $1.3 billion in TVL.