Where Is Terra's DeFi Market Share Going? Ethereum, BNB Chain, and Tron

[Jaya60]

Terra's collapse boosted activity on Ethereum and BNB Chain. But Tron is also getting a boost from its algorithmic stablecoin that resembles... Terra. Before its agonizing implosion last month, Terra's ecosystem enjoyed nearly 15% of all DeFi market share. This made it the second-largest hub for all things decentralized finance, according to data from DeFiLlama. But when a $40 billion network collapses and investors head for the hills, where do they run to?

First, let’s look at protocols like Ethereum, Avalanche, Solana, Fantom, Tron, and Binance’s BNB Chain (formerly called BSC).

On May 6, when Terra was still alive and kicking, Ethereum had 55% of all DeFi activity, BNB Chain had 6%, Avalanche had 4%, Solana enjoyed 3%, Fantom had 2%, and Tron held 2%.more