Solana is making waves in the blockchain world, leading net inflows in September with a staggering $763 million, outpacing all other blockchains combined.

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.

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.

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.

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.

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.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: fellowneko/123RF // Image Effects by Colorcinch