Solana’s TVL Hits Yearly High

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The total locked value (TVL) on the Solana blockchain yesterday surpassed $339 million, marking the highest amount since November 2022.

Within the last 24 hours, the network’s TVL increased by 4.15%, with the largest growth observed in the landing service Mango Markets (28%), DEX FluxBeam (20%), and Oxygen lending protocol (15%).

Despite this recent surge, the current figures are still a long way off from the all-time high of $10 billion in November 2021 for the ecosystem’s TVL.

According to CoinGecko, over the past week, the SOL token has increased by 24%.

As of writing, the coin is trading at $24.13, a 10.7% increase in the past 24 hours.

The market capitalization of the asset is approximately $9.95 billion, with a daily trading volume of $920 million.

However, the SOL price still has yet to reach its peak of $259 during the previous bull cycle.