Solana is making waves in the blockchain world, leading net inflows in September with a staggering $763 million, surpassing all other blockchains combined.
‼️BREAKING: #Solana DeFi TVL hits $5.70 billion, reaching levels last seen 1,000 days since the January 2022 peak. pic.twitter.com/zXWQMwdP7w
– CoinEcho (@mycoinecho) October 1, 2024
This influx highlights the growing momentum behind Solana, particularly in the DeFi sector, where its total value locked (TVL) surged to $5.7 billion, a level not seen in nearly three years since January 2022.
🚨BREAKING: Solana DeFi TVL hits $5.70 billion, reaching levels last seen 1,000 days ago
Solana’s DeFi ecosystem soared to $5.70 billion in TVL, marking a three-year high. These levels have not been seen for 1,000 days since the January 2022 peak. pic.twitter.com/vpZP9rzsHW
– SolanaFloor (@SolanaFloor) October 1, 2024
Over the past month, more than $930 million has moved from other channels to Solana, a significant increase from the $345 million recorded in August. This rise reflects the growing confidence in Solana’s ecosystem and its ability to attract liquidity from across the crypto space.
🚨 REPORT: More than $930 million moved from other channels 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 terms of monthly NFT on-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 on-chain fees (from NFTs).
▶️ Royalties: $1.5 million
▶️ Dominance: 52%(@tensor_hq Marketplace leader with 57% of royalties) pic.twitter.com/PhLNGDibAv
– SolanaFloor (@SolanaFloor) October 1, 2024
Six Defi Protocol on Solana Now Reaches 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 with $1.6 billion, Jupiter with $1.3 billion, Marinade with $1.2 billion, Raydium with $1.1 billion. dollars and Sanctum completing the list with $1 billion.
🚨BREAKING: For the first time in three years, six Solana DeFi protocols boast over $1 billion in TVL. pic.twitter.com/sJ7zhfYMZs
– SolanaFloor (@SolanaFloor) October 1, 2024
As Solana continues to outperform, both in terms of DeFi inflow and growth, its position as a blockchain leader is solidified. As DeFi TVL hits a three-year high and NFT royalties skyrocket, Solana sets the stage for further crypto market expansion. 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 purchasing any cryptocurrency or investing in any service.
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Image source: camaradeneko/123RF // Image effects by Colorcinch
