Solana Total Value Locked 8,600,000,000 dollars in the fourth quarter of 2024, and a height of 486 % in one year: Messengeri
The ETHEREUM (ETH) rival (SOL) has increased several complications in terms of the total closed value (TVL) in the last quarter of 2024, the latest Messenger data.
In its new report, “State of Solana Q4 2024”, Crypto Analytics notes that TVL on Solana grew by 64 % quarter of a quarter of (QOQ) and 486 % on an annual basis (YOY) to 8.6 billion dollars, and its second arrangement between Blockchains, exceeded Tron ( TRX) in November.
TVL refers to the total value of closed or mysterious digital assets within the Blockchain smart contracts or application.
Raydium, who leads the charge on Solana, according to Messari, was the largest central exchange (Dex) on the network. TVL has grown from Raydium 86 % QOQ and ended Q4 with a 24 % market share.
Mesari says Raydium’s dominance can be attributed to speculators who trade cryptocurrencies associated with artificial intelligence (AI).
“Solana continued to create its location as a dynamic power in the Blockchain system throughout the second quarter of 2024. The quarter witnessed a remarkable growth in multiple sectors, including Defi, SILED StAKING, and NFTS (non -violated symbols), and institutional participation.
Defi (decentralized financing) remained the cornerstone of the growth on Solana, with the total value (TVL) increased by 64 % to 8.6 billion dollars, and securing the location of the network as a larger second area. This increase was driven by great jumps in the decentralized lending and exchange platforms (Dexs), with Raydium and Jupiter driving the charge in daily sizes. Memecoin’s direction provides more momentum, enhancing application revenues and market activity. Meanwhile, the liquid savings rate increased by 33 % of QOQ to 11.2 %, which increased its role in the increasing ecosystems of the return. “
You can read the full messari report here.
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