Solana’s DeFi projects’ TVL hits record, while SOL price jumps

Total Locked-In Value (TVL) on Solana’s DeFi projects explodes

The arrival on the scene of Solana’s DeFi projects can be seen very clearly in the progression of the Total Locked-in Value, or TVL, in the protocols. According to data from DeFi Llama, it reached a new record yesterday, at more than $ 12.5 billion:

TVL Total value locked Solana DeFi

Progress of the TVL of Solana’s DeFi projects. Source: DeFi Llama

The main projects are very close in terms of locked value. The top 3 is however occupied today by Saber (SBR), Raydium (RAY) and Marinade Finance (MDNE). It is this latter project – a staking protocol – which is partially responsible for the breakthrough of Solana’s TVL. The value locked in on Marinade Finance has thus increased by + 75% over the last seven days.

It’s been a few weeks that we feel a marked enthusiasm for the “Ethereum killer” that Solana is supposed to be. The decentralized finance projects of this blockchain have managed to raise millions of dollars, and the ecosystem of non-fungible tokens (NFT) is also starting to grow.

👉 To read – It is now possible to transfer NFTs between Ethereum (ETH) and Solana (SOL)

The SOL price continues to progress

If the rest of the cryptocurrency markets have undergone a correction since the records of the last few days, this is not the case with SOL, the native asset of Solana. The latter took + 10% over the last 24 hours, against the prices of BTC and ETH which fell by -3% and -0.7% respectively. In just over two days, the SOL jumped + 34%:

SOL Solana course

SOL price during the week. Source: TradingView, SOL / USDT

The price of SOL once again exceeds $ 200, and is approaching its all-time high: it reached $ 213 a month ago. Its capitalization is showing 61 billion dollars this morning, which places it in 6th place among the most capitalized cryptocurrencies of the moment.

👉 Find all the news about altcoins

Newsletter 🍞

Receive a recap of crypto news every Sunday 👌 And that’s it.

About the author: Marine Debelloir

twitter-soothsayerdatatwitter-soothsayerdata

Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

Back to top button