Base Moves Past Solana to Rank Second in DeFi by Total Value Locked

Base has moved ahead of Solana in the amount of capital held in decentralized finance protocols, making Coinbase's Ethereum layer 2 the second-largest network by total value locked (TVL).

Base's TVL was about $5.664 billion Tuesday, Nov. 10, compared with $4.989 billion for Solana. Both networks posted declines over the prior 24 hours: Base fell 1.24%, and Solana dropped 2.08%. The ranking had held since Base moved ahead around Oct. 10.

Through early November, Base's TVL had increased roughly 28% year to date, while Solana's had contracted about 36%. Ethereum remained far ahead, with TVL above $41 billion, more than seven times Base's total.

TVL measures assets deposited in DeFi protocols, so it captures only one part of network activity. Solana still exceeded Base in trading volume and user engagement in several areas. The shift puts Base in second place for DeFi capital, while Ethereum continues to lead by a wide margin.