The week of February 16-22, 2026, revealed significant activity across major blockchain networks, with Ethereum maintaining its dominance while emerging chains like Solana and Base demonstrated substantial user engagement. Total value locked across tracked chains exceeded $79.9 billion, reflecting sustained interest in decentralized finance despite market volatility.
Ethereum
Ethereum consolidated its position as the leading DeFi platform during the week, with Total Value Locked (TVL) hovering around $54 billion. The network processed approximately 2 million transactions daily.
Key Ethereum Metrics (Feb 16-22):
| Metric | Value Range |
| TVL (Total Value Locked) | $53.67b – $54.84b |
| Peak DEX Volume (Feb 19) | $2.079b |
| Average Daily Chain Fees | $265,549 |
| Stablecoin Market Cap | $158.3b – $158.9b |
| Active Addresses | 547,260 – 671,150 |
The mid-week period (Feb 18-19) marked a peak in DEX trading activity, with volumes reaching $2.079 billion on February 19. This surge indicates heightened trading interest. Notably, chain fees remained relatively stable, averaging around $265,000 daily, suggesting consistent network utilization.
Solana
Solana demonstrated its characteristic high-transaction-volume profile throughout the week, with daily transaction counts exceeding 75 million on multiple days. The network’s TVL of approximately $6.5 billion positions it as the second-largest DeFi ecosystem by value locked.
Key Solana Metrics (Feb 16-22):
| Metric | Value Range |
| Total Value Locked (TVL) | $6.43b – $6.63b |
| DEX Trading Volume | $1.46b – $2.73b |
| Daily Transactions | 75.29m – 83.8m |
| Daily Active Addresses | 2.01m – 2.23m |
| Token Market Cap | $46.3b – $49.1b |
Active addresses remained consistently above 2 million, with some days exceeding 2.23 million. However, DEX volumes dropped from $2.317b to $1.456b toward the end of the week.
BSC
Binance Smart Chain maintained stable performance with a TVL around $5.7 billion and consistent daily transaction volumes between 12-14 million.
Key BSC Metrics (Feb 16-22):
| Metric | Value Range |
| Total Value Locked (TVL) | $5.62b – $5.83b |
| DEX Trading Volume | $720.9m – $1.06b |
| Daily Transactions | 12.28m – 14.42m |
| Active Addresses | 2.39m – 2.61m |
| Stablecoin Market Cap | $13.87b – $13.89b |
The stablecoin market cap remained stable at approximately $13.88 billion, indicating a mature ecosystem.
Bitcoin
Bitcoin’s on-chain metrics reflect its role as the primary collateral and settlement layer, with TVL around $5.1 billion.
Key Bitcoin Metrics (Feb 16-22):
| Metric | Value Range |
| Total Value Locked (TVL) | $4.97b – $5.18b |
| Token Market Cap | $1.328t – $1.377t |
| Active Addresses | 525,709 – 662,947 |
| Daily Chain Fees | $126k – $175k |
| DEX Volume | $572k – $990k |
Active addresses peaked at 662,947 on February 20, indicating increased activity.
Tron
Tron emerged as a critical stablecoin infrastructure hub, with a remarkable $84.7 billion stablecoin market cap, significantly larger than its native TVL of $4.1 billion.
Key Tron Metrics (Feb 16-22):
| Metric | Value Range |
| TVL | $3.99b – $4.16b |
| Stablecoin Market Cap | $84.5b – $85.2b |
| DEX Volume | $27.4m – $84.6m |
| Active Addresses | 2.77m – 3.49m |
| Daily Chain Fees | $536k – $861k |
Chain fees averaged between $600k-$860k daily, reflecting high stablecoin transfer volume.
Base
Base demonstrated growth with $3.9 billion TVL and rising DEX activity.
Key Base Metrics (Feb 16-22):
| Metric | Value Range |
| Total Value Locked (TVL) | $3.80b – $3.92b |
| DEX Volume | $381.4m – $970.9m |
| Active Addresses | 392,480 – 961,232 |
| Daily Transactions | 7.76m – 12.49m |
| Stablecoin Market Cap | $4.61b – $4.68b |
Peak DEX volume reached $970.9 million on February 17, highlighting strong L2 engagement, compared to the previous weekly Report Blockchain On-Chain Metrics: February 09–15, 2026.
Comparative Analysis
Across all tracked chains:
- TVL Hierarchy: Ethereum ($54b) >> Solana ($6.5b) > BSC ($5.7b) > Bitcoin ($5.1b) > Tron ($4.1b) > Base ($3.9b)
- Transaction Throughput: Solana (80m+ daily) >> Tron (10m daily) ≈ Base (10m daily) > Ethereum (2m daily) > BSC (13m daily)
- Stablecoin Concentration: Tron dominates with $84.7b
- DEX Activity: Solana led in raw volume with weekly average DEX volumes of $1.98 billion
Market Implications
The data highlights a maturing multi-chain ecosystem:
• Ethereum remains the settlement layer of choice
• Solana attracts high-frequency and retail traders
• Tron serves as core stablecoin infrastructure
• Layer 2 networks like Base are gaining market share
All on-chain data is based on DeFiLlama Data.
