Solana’s DeFi TVL and DEX volume reaches new all-time high of over $10 billion -Passionategeekz – Passionategeekz.com

Solana’s decentralized finance (DeFi) ecosystem has reached a major milestone, demonstrating its growing role in the blockchain space.

The total value locked (TVL) of the blockchain exceeded $10 billion for the first time in three years.

Solana’s rising TVL and DEX activity

Data from DeFiLlama shows that Solana’s TVL has increased by $1.5 billion since January 14, reaching an all-time high of $10.172 billion. This increase highlights the growing adoption of the platform DeFiapplications and the ability to attract significant liquidity.

Solana has too surpassed competitors in decentralized exchange (DEX) trading activity. In the past 24 hours, figures show that Solana’s daily DEX volume rose to $10.47 billion, almost three times Ethereum’s $3.28 billion.

Over the past week, Solana has maintained its dominance, with a trading volume of $33.7 billion compared to Ethereum’s $15.39 billion.

An important contribution to this growth is the launch of a memecoin called “TRUMP” on the Solana blockchain. The token, linked to US President-elect Donald Trump, enjoyed a meteoric rise, with its share price up almost 500% and a market cap of over $15 billion.

“TRUMP pairs account for 18.5% ($1.92 billion) of Solana’s total trading volume today,” said crypto analyst Tom Wan .

Evenzo be blockchain analyst Sharples points out that the meme coin hype activity in lending markets, with a $20 million increase in USDC loans and 460 million new USDC tokens minted since the token’s launch.

Meanwhile, the excitement surrounding Solana isn’t limited to memecoins. Market speculation about possible Solana-based spot ETFs and the rumors about inclusion in US strategic reserves have strengthened investor sentiment. These developments have stimulated whale transactions and increased Solana’s appeal to institutional investors.

Notably, the bullish expectation has had a positive impact on Solana’s native token, SOL, which has risen 10% in price over the past day and is trading around $242, according to data from BeInCrypto.

A recent report from Bitwise Asset Management predicts that SOL will reach between $2,318.90 and $6,636.88 by 2030, driven by increasing daily active addresses and robust blockchain adoption.

Solana’s growth has solidified its position as a formidable competitor to Ethereum in the DeFi landscape. The network’s scalability and efficient infrastructure make it an excellent choice for speculative trading and innovative applications. Analysts expect that as Solana’s ecosystem matures, it will unlock even more opportunities for growth and innovation.