Its recent downtime has not deterred Solana, as activities have increased its TVL over the past few months.
has been displaying an upward trend over the past few weeks, reaching a level that has not been observed in over a year.Since then, the TVL has increased by about $500 million, reaching about $1.9 billion at the time of this writing.
This represents the highest TVL the Solana network has experienced in over a year, with the last comparable level observed around June 2022.as the top contributor to the TVL. At the time of this writing, Marinade Finance’s TVL was around $1.2 billion.held the title of the most popular network in the ecosystem at press time, its TVL was about $140 million.trend showed a notable surge in activity over the past few months.
Before this, the volume typically hovered around the $150 million range. While there has been a decline in volume since the beginning of the year, it has not dropped below the $500 million range. At the time of this writing, the volume was over $560 million. This trend in volume suggested that the Solana network was experiencing heightened activity.AMBCrypto’s look at Solana’s price trend on a daily timeframe showed that it’s not just the volume experiencing an upward trend.At the time of this writing, SOL was on the brink of establishing a seven-day consecutive uptrend, a noteworthy occurrence after several months.
The data showed that the uptrend began on the 5th of February when SOL was trading at $95.5. At the time of this writing, it was trading at around $109.7, reflecting a modest increase of less than 1%.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.
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