Ethereum TVL Struggles to Keep Up with Competitors, Scams Take Over

• Ethereum’s DeFi Total Value Locked (TVL) is the highest in the market, but other chains have been outperforming it recently.
• TRON and Optimism have seen a significant increase in their TVLs over the last 30 days, while Ethereum has had difficulty keeping up.
• Scammers have also taken advantage of Ethereum’s network by creating fake wallets and using them to phish unsuspecting users.

Ethereum’s Slowing TVL

Despite planning a series of upgrades in 2023, Ethereum [ETH] has not had the best of starts to the year. Bar the altcoin fantastic rally like the rest of the market in January 2023, the network has been full of irregularities and dawdling. Notably, a fundamental bragging right has been its capability to house several decentralized applications (dApps). This same proficiency is why its DeFi Total Value Locked (TVL) is the highest. At press time, Ethereum’s TVL was valued at $28.99 billion. However, other chains in the DeFi ecosystem seem determined to outperform the second-ranked project in market value.

TRON and Optimism Outperforming ETH

A noteworthy competitor that has given Ethereum a run for its money is TRON [TRX], the Justin Sun-led project. In the last 30 days, TRON’s TVL increased 26.82% even though it still played second fiddle to Ethereum. In addition, the trendy Optimism [OP], whose aim is to scale the Ethereum ecosystem by using optimistic rollups, has also outperformed the Ethereum TVL. Despite being far below Ethereum’s worth, OP’s TVL increased 56.56%, according to DeFi Llama. An interpretation of this chart means that unique depositors have preferred to pump more liquidity into these chain over ETH . Also, both TRON and OP had seen an overall improvement in health when compared with ETH .

Scammers Targeting ETH Network

But it isn’t just blockchain which is at risk here – its users are too! On 7 February 2021 Peckshield Alert tweeted that two top spenders on Ethereum were actually scammers all along – they were using fake smart contracts wallets as part of a phishing scam designed to lure unsuspecting addresses into giving away private information or funds without their knowledge or consent!

How Much Are 1/10/100 ETH Worth?

How much are 1/10/100 ETHs worth today? As per CoinMarketCap data on March 9th 2021 , 1 ETH was equivalent to US$1 581 , 10 ETH equalled US$15 811 and 100 ETH equalled US$158 110 .


In conclusion , despite having one of highest DeFi Total Value Lock (TVL), it appears that competing cryptocurrencies such as TRON and Optimism are fast catching up with Etheruem . Additionally , scammers have been taking advantage of this situation by employing various phishing tactics against unwitting users . Finally , as per CoinMarketCap data on March 9th 2021 , 1/10/100 Etheruem was equalent respectively US$1 581 / US$15 811 /US$158 110 respectively