The Solana eco-system is thriving, and its total value locked in (TVL) has exceeded the $2 billion mark. This represents a significant recovery from the starting point in December of $688 millions, marking a 2000% increase in only two months.
Data from DefiLlama shows that the TVL of Solana currently stands at $2.028 Billion, a value last seen in 2022. The recent increase is due to liquid staking, yield-generating protocols Jito Marinade and Marginfi, as well as the protocol Jito.
The explosive growth in Solana’s TVL is a testament to the popularity of Layer-1, one of the fastest blockchains. Now institutional investors are showing renewed interest.
Solana was the fifth most valuable cryptocurrency at press time, with a market cap of $103.
This short-term fluctuation is not indicative of the long-term trajectory, but it has reinforced community confidence, as well as market observers. believe There’s still plenty of room for improvement.
Check out our latest video if you want to read about some of the most exciting Solana predictions:
Solana Outpacing Competitors
Solana is outperforming most of its competitors in terms of TVL. Cardano, however, has a metric where it outperforms Solana.
As CryptoPotato reportedCardano is a leader in several key metrics, compared to its competitors. Cardano’s NFT sales have soared to $1.6 million over the past week, a 100% increase. Solana NFT’s sales fell by 7%, to a total of $48 million, in the same timeframe.
Cardano’s native currency, ADA (Ada), has also displayed strong price performances in recent weeks. CoinGecko says that ADA experienced a 25% increase in price over a period of two weeks.
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Source: cryptopotato.com