The recovery of Solana coincided with a similar increase in his Defi TVL, which reached the highest level in six months.
The latest Crypto Bull Run increased both the price of Solana (SOL) and Defi Ecosystem. On Monday, July 21, the total market capitalization of Solana again crossed $ 100 billion, with Sol -trade at $ 194.62 per coin. With a market capitalization that floats below $ 105 billion, this is the highest level that this statistics have reached since January 25 this year.
At the same time, the rise in the price of Solana also contributed to the rising value of the total ecosystem. Solana’s Defi TVL has reached $ 10,453 billion, the highest this statistics has been since January, when Sol hit a record high.
The growth was also reflected in the increase in Dex activity, although these figures did not approach the highlights of January. Solana Dexs processes between July 14 and July 20 $ 22.58 billion In volume, an increase of $ 18.5 billion a week before.
Leadership under decentralized scholarships are Raydium, Orka and Meteora, with weekly volumes of $ 8.4 billion, $ 5.9 billion and $ 5.3 billion. Nevertheless, the weekly DEX volume remains far from its peak in mid-January, where it reached $ 98.28 billion.
Why Solana’s Defi TVL Rose
The most likely reason for Solana’s Defi TVL that reaches a highlight of six months is the boost of the Solana-Token Prize. This is because Sol -Tokens good to offer a considerable percentage of the assets in the Defi protocols of the network.
The Defi TVL from Solana is good for tokens, stablecoins and memecoins that are deposited in various Defi protocols in the Solana Ecosystem. This includes tokens in smart contracts, loan pools or safes.
Yet the Defi TVL does not contain solana tokens that have been plotted with validators for securing the network. This figure is currently 355.4 million Sol, with a value of $ 69.44 billion, or around 66% of all tokens in circulation. Defi TVL also contains no tokens that are held at centralized fairs.
