Overview

• ARK Invest’s Q3 DeFi report identifies Solana as the top network by real economic value at $223 million.
• High transaction volumes, active user participation, and growth in decentralized exchanges and lending protocols powered Solana’s result.
• Tron ranked second with roughly $160 million as ARK compared network activity across ecosystems including Ethereum.
• ARK defines real economic value as on-chain revenue tied to DeFi primitives such as stablecoins, DEXs, and lending rather than token price or market cap.
• Across all chains, Q3 real economic value fell to $655 million, about 83% below the Q4 2021 peak, which ARK links to fewer uninformed flows and lower transaction costs.