Solana is making waves in the blockchain world, leading net inflows in September with a staggering $763 million, outpacing all other blockchains combined.
‼️BREAKING: #Solana DeFi TVL Hits $5.70B, Reaching Levels Last Seen 1,000 Days Since the Peak In January 2022. pic.twitter.com/zXWQMwdP7w
— CoinEcho (@mycoinecho) October 1, 2024
This influx highlights the increasing momentum behind Solana, especially in the DeFi sector, where its total value locked (TVL) has surged to $5.7 billion, a level not seen in nearly three years since January 2022.
🚨BREAKING: Solana DeFi TVL Hits $5.70B, Reaching Levels Last Seen 1,000 Days Ago
Solana’s DeFi ecosystem has surged to $5.70B in TVL, marking a three-year high. These levels have not been seen in 1,000 days since the peak in January 2022. pic.twitter.com/vpZP9rzsHW
— SolanaFloor (@SolanaFloor) October 1, 2024
In the past month, over $930 million has been bridged from other chains to Solana, a significant jump from the $345 million recorded in August. This uptick reflects the growing confidence in Solana’s ecosystem and its ability to attract liquidity from across the crypto space.
🚨 REPORT: More than $930 million has been bridged from other chains to @Solana over the past month
Comparison:
▶️ August: $345 million
▶️ September: $930 million+ pic.twitter.com/I3yxS5E0Xg— SolanaFloor (@SolanaFloor) October 1, 2024
Solana’s dominance extends beyond DeFi, as it surpasses all other blockchains in monthly NFT chain royalties. In September alone, Solana generated $1.5 million in royalties, capturing 52% of the entire market, with the Tensor marketplace accounting for 57% of those royalties.
🚨 REPORT: @Solana surpasses all other blockchains combined in monthly Chain Royalties (from NFTs).
▶️ Royalties: $1.5 million
▶️ Dominance: 52%(@tensor_hq marketplace leads with 57% of royalties) pic.twitter.com/PhLNGDibAv
— SolanaFloor (@SolanaFloor) October 1, 2024
Six Defi Protocol On Solana Now Hits Over $1 Billion IN TVL
For the first time in three years, six DeFi protocols on Solana now boast over $1 billion in TVL. Jito leads the pack with $2.1 billion, followed by Kamino at $1.6 billion, Jupiter at $1.3 billion, Marinade with $1.2 billion, Raydium at $1.1 billion, and Sanctum rounding out the list with $1 billion.
🚨BREAKING: For the first time in three years, six Solana DeFi protocols boast over $1B in TVL. pic.twitter.com/sJ7zhfYMZs
— SolanaFloor (@SolanaFloor) October 1, 2024
As Solana continues to outperform, both in terms of inflows and DeFi growth, its position as a leading blockchain is solidifying. With the DeFi TVL hitting a three-year high and NFT royalties soaring, Solana is setting the stage for further expansion in the crypto market. All eyes are now on Solana as it continues to attract capital and innovation across multiple sectors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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