2026-01-08 13:07:56

What was the DeFi lending market like three years ago? It has long since changed beyond recognition.

According to on-chain data, the DeFi lending sector outside of Ethereum is now playing a new power game. Base, Solana, and Plasma each hold 20% of the deposit share, becoming the three major players in this market. Arbitrum and BNB Chain follow closely, each occupying about 10% of the market share.

The most eye-catching is Plasma's performance. This public chain has gone from obscurity to a stunning rise in a short period, with a very aggressive growth momentum. But the question is—can this rapid rise continue? Can it evolve into a long-term value support? The key may lie in the Plasma One upgrade or direction.

From these data changes, it’s clear that the DeFi ecosystem has become fully multi-chain, no longer dominated solely by Ethereum. Each public chain is competing for market share, driven by factors such as ecosystem development, user base, and fee models. Only those public chains that can continuously provide value to users will be able to win in this marathon.

ETH1,15%

SOL0,28%

XPL-2,51%

ARB-0,14%

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MagicBean

· 01-11 12:35

This wave of Plasma is truly amazing. From being unknown to capturing 20% market share, who can withstand this growth rate? I'm just worried about the lack of sustained momentum.

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ImpermanentSage

· 01-10 02:37

Plasma's rise is indeed fierce, but I always feel that this rapid ascent is likely to be fleeting... The ones that can truly survive will depend on ecological accumulation. Multi-chain competition is quite intense, but Ethereum's position is really hard to shake. These chains need to find their own differentiated paths to thrive. With Base and Solana sharing such a large market share, it seems that the ecological effects have already formed, making it very difficult for latecomers to break through. Whether Plasma One's upgrade can withstand the test is honestly uncertain... Most of these high-growth trends are just speculative bubbles. DeFi lending pools are so small; essentially, they are just cannibalizing each other's market share. The one that can save users money wins.

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NFT_Therapy

· 01-09 16:47

This wave of Plasma's surge is really fierce, but how long can it last? Is betting on the One upgrade feasible?

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PonziDetector

· 01-08 13:37

The recent surge of Plasma is really intense, but I'm more curious whether this growth can be sustained... What happens once the hype fades? Base and Solana are both holding steady at around 20%, but these numbers are very volatile. Last year's stars might be knocked out this year. Multi-chain competition is interesting to watch, but the key is who can truly retain users. Relying solely on low fees and marketing hype won't cut it in the long run. If Plasma One's upgrade can actually be delivered, there might be some potential... Otherwise, it's another story. The real test period is just beginning.

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NFTregretter

· 01-08 13:33

Ah, Plasma is riding the hype again. Let's see how long it can last.

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0xSherlock

· 01-08 13:32

This move with Plasma is really awesome. Who would have thought three years ago... However, this rapid rise is often just a flash in the pan. Let's see if Plasma One can hold on.

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ruggedSoBadLMAO

· 01-08 13:25

This wave of Plasma's surge is truly impressive, but I'm just worried about whether the momentum can be sustained. Whether the One upgrade can hold up remains to be seen.

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MetaverseMigrant

· 01-08 13:25

This round of Plasma is indeed fierce, but I'm just worried it will be a flash in the pan. Without technical support, relying solely on hype will eventually lead to failure. Base and Solana are still more stable; their ecosystems are well-established. Who would have thought three years ago that Ethereum would still have to bow and scrape? The real competition is still about transaction fees—who's cheaper wins. If Plasma One doesn't succeed, this story will be over. In the multi-chain era, everyone wants a share, but few can make it to the end.

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ProofOfNothing

· 01-08 13:24

Is Plasma really that powerful, or is the data exaggerated... The market share split between Base and Sol has been obvious for a while, but I didn't expect Plasma to rise so quickly. Everyone can see the trend of multi-chain, but how many will truly survive? If Plasma One fails, all these data will be meaningless. It seems that only chains with real applications can last long; vapor projects will eventually fail. What is Ethereum's current position? It feels like the hype has really cooled down. This wave of comparing the crypto circle to a "marathon theory" is getting a bit tiresome. User base is the key; burning money and subsidies are just temporary pleasures.

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