Solana’s DeFi TVL and DEX Volume Reaches New All-Time High of Over $10 Billion 🚀
Solana’s decentralized finance (DeFi) ecosystem has achieved a significant milestone, crossing $10 billion in total value locked (TVL) for the first time in three years. According to DeFiLlama data, Solana saw a staggering $1.5 billion increase since January 14, indicating growing adoption and substantial liquidity influx.
The platform's decentralized exchange (DEX) activity similarly observed dramatic growth, with daily volume reaching $10.47 billion, outperforming Ethereum’s $3.28 billion by almost threefold. Solana's weekly trading volume also surged to $33.7 billion, demonstrating its sustained dominance in the sector.
A major driver of this growth is the launch of a new meme token, “TRUMP,” linked to US President-elect Donald Trump. The token rose 500% in price, boasting a market capitalization exceeding $15 billion. This surge contributed to significant DEX trading activity, accounting for 18.5% ($1.92 billion) of Solana’s total trading volume.
This memecoin fervor also prompted increased activity in borrowing markets, leading to a $20 million spike in USDC loans and the minting of 460 million new USDC tokens. Meanwhile, speculation about Solana-based ETFs and potential inclusion in US strategic reserves has increased investor sentiment, attracting substantial institutional interest.
The positive outlook surrounding Solana has benefited its native token, SOL, contributing to a 10% price rise in 24 hours. Analysts project SOL achieving prices between $2,318.90 and $6,636.88 by 2030, driven by greater daily active addresses and blockchain adoption.
Solana's ecosystem's resilience and progressive development have established it as a serious contender to Ethereum within the DeFi landscape, thanks to its scalable and efficient infrastructure.
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