BNB Chain Flips Solana to Become Second-Largest DeFi Network by TVL

BNB Chain has overtaken Solana in decentralized finance (DeFi) total value locked (TVL), marking another major milestone as activity across the blockchain continues to expand.

Onchain data as of September 14 shows BNB Chain holding approximately $5.94 billion in DeFi TVL. That figure puts the network in second place among major blockchains, narrowly ahead of Solana, which has around $5.89 billion locked across its DeFi ecosystem.

The shift highlights the growing adoption of BNB Chain as users increasingly engage with decentralized exchanges, lending protocols and other DeFi applications. Solana, meanwhile, has slipped to third place based on the reported figures.

Ethereum remains the clear market leader, with roughly $49.95 billion in DeFi TVL, maintaining a substantial advantage over competing networks. Base ranks fourth with approximately $5.63 billion, followed by Tron at about $5.47 billion.

BNB Chain's move above Solana attracted attention from Binance founder Changpeng Zhao, commonly known as CZ. He acknowledged the blockchain's progress while pointing to the considerable distance separating BNB Chain from Ethereum.

Reacting to the rankings, CZ joked that overtaking Ethereum would be a "long road," emphasizing the scale of Ethereum's current lead. However, he also suggested that blockchain rankings should not simply be treated as a competition between ecosystems.

Instead, CZ framed BNB Chain's latest milestone as motivation for developers and community members to continue building and strengthening the network.

The latest DeFi TVL figures add to signs of increasing onchain engagement across BNB Chain. Moving ahead of Solana is particularly notable given the intense competition among major layer-1 networks for users, developers, liquidity and decentralized application activity.

Still, Ethereum's nearly $50 billion in locked value demonstrates the challenge BNB Chain faces if it aims to close the gap with the leading smart-contract network.

For now, BNB Chain's $5.94 billion TVL gives it a narrow advantage over Solana and reinforces its position as one of the largest DeFi ecosystems by capital locked.