TL;DR
- BNB Chain has overtaken Solana in DeFi total value locked, reaching $5.94 billion compared with Solana’s $5.89 billion.
- Binance co-founder Changpeng Zhao acknowledged the network’s progress but said flipping Ethereum remains a “long way” away.
- Ethereum still dominates with nearly $50 billion in TVL, while BNB Chain’s rising activity reinforces its position among the leading smart-contract networks.
BNB Chain has moved into second place among blockchain networks by DeFi total value locked (TVL), according to data reported on September 14. The network holds approximately $5.94 billion in locked assets, narrowly exceeding Solana’s $5.89 billion.
Still a long way to flip ETH 🤣. Not a competition. Keep building!
— CZ 🔶 BNB (@cz_binance) September 14, 2026
The shift comes as BNB Chain continues to attract activity across decentralized exchanges, lending platforms and other onchain applications. DeFi TVL remains only one measure of blockchain adoption, but the latest ranking reflects the growing amount of capital being deployed through applications operating on BNB Chain.
Ethereum remains firmly ahead of both networks, with approximately $49.95 billion in DeFi TVL. Base follows BNB Chain and Solana with around $5.63 billion, while Tron ranks fifth at approximately $5.47 billion.
CZ Points To Ethereum As A Much Larger Challenge
Changpeng Zhao, Binance’s former CEO and a prominent figure in the BNB ecosystem, reacted to the ranking by acknowledging BNB Chain’s stronger position against Solana. His response also pointed to the substantial distance separating BNB Chain from Ethereum.
Zhao described an eventual attempt to overtake Ethereum as a “long way,” reflecting the scale of Ethereum’s lead rather than dismissing BNB Chain’s recent progress. He also emphasized that blockchain rankings should not simply be treated as a race, suggesting that competition can instead encourage developers and ecosystems to keep improving.
The difference in TVL illustrates why Ethereum remains difficult to challenge. Its DeFi ecosystem includes established protocols, deep liquidity and extensive developer activity accumulated over several years. BNB Chain, meanwhile, benefits from its connection to the broader Binance ecosystem and a large base of users familiar with its applications.
The latest ranking also shows how competitive the smart-contract sector has become. Solana, Base, Tron and BNB Chain are all operating within a relatively narrow range of TVL, while Ethereum maintains a substantially larger lead.
For BNB Chain, moving ahead of Solana gives the network another data point supporting its continued expansion in DeFi. Maintaining that position will depend on liquidity, application growth, user activity and sustainable demand rather than TVL alone.
With Ethereum still commanding a much larger share of DeFi capital, CZ’s “long way” comment sets a realistic benchmark for BNB Chain while recognizing its progress. The latest figures nevertheless strengthen the case for continued competition among major blockchain ecosystems.
