In a crypto market saturated with promises, Solana imposes its quantified reality. Long perceived as an outsider, the blockchain has just exceeded several heavy goods vehicles in the sector, displaying a record TVL, rising costs and a sustained deficiency adoption. While the soil jumped 24.8 % % between May 6 and 10, on-chain indicators confirm a solid dynamic, far beyond the simple market effect.
In short
- Solana stands out as a key player in the DEFI, exceeding all Ethereum Layer-2 solutions on TVL.
- The network records a record TVL of $ 10.9 billion, carried by the strong growth of its native protocols such as Raydium, Jito and Marinade.
- 65 % of the soil supply is currently staked, reducing the selling pressure and supporting the upward dynamics of the token.
- The financing rate of term contracts remains stable at 8 %, indicating a speculative interest controlled for soil.
Solana exceeds the giants: the booming deffi on the network
In the latest reports published, Solana displays a total locked value (TVL) of $ 10.9 billion, thus surpassing the entire Ethereum Layer-2 ecosystem, which includes arbitrum, optimism and base.
This positions Solana “Among the leaders in matters of we-chain”which hoists him above BNB Chain despite his direct integration with Binance. Such spectacular progression propels it to second place of blockchains by TVLjust behind Ethereum MAINNET.
The signal is clear. Solana is no longer content to exist in the shadow of the behemoths, but it redefines balances in the DEFI.
This dynamic is notably carried by the rise of several key applications of the Solana ecosystem. Over the past 30 days, we observe:
- Raydium (DEX): +78 % TVL;
- Jito (Liquid Staking): +41 %;
- Marinade (Stoking Protocol): +56 %.
These figures reflect a real adoption, far beyond the passenger fashion effects. By attracting liquidity, active investors and real use of its DAPPS, the Solana network is distinguished as one of the most dynamic poles of the moment.
This growth, supported by the diversity of its native protocols, strengthens the credibility of an ecosystem long criticized for its instability or its past interruptions. Solana now seems to combine scalability, real economic activity and resilience.
An increase in income and the dynamic on-chain: solid fundamentals for the soil
Beyond TVL growth, another indicator challenges: income generated by network costs. Over the past 30 days, Solana has garnered $ 43.3 million, an increase of 109 % compared to the previous month.
It is a level higher than that of Ethereum over the same period ($ 24.9 million), and close to Tron ($ 51.9 million) according to Defillama data. Such figures translate an effective use of the network, beyond the simple locking of funds, and reflect a rise in economic activity on Solana.
Also, 65 % of the soil supply is currently staked, a high rate which reduces the liquidity available on the market and exerts upward mechanical pressure on the price of the assets.
For their part, the ground -related derivatives send rather balanced signals. The annualized financing rate of perpetual contracts is 8 %, a level deemed healthy by analysts, because it is in a neutral range between 5 %and 10 %.
In other words, long traders do not surpay to keep their positions, which testifies to a sustained, but moderate speculative interest.
These data, if they do not guarantee anything, provide information on several potential scenarios. Thus, some analysts mention the hypothesis of an ETF Spot Solana in the United States or integration into digital reserves, catalysts that could permanently strengthen the attractiveness of the assets. Others are betting on the tokenization of traditional assets on the network, a segment that Solana begins to explore seriously. If the evolution of the soil price remains dependent on exogenous factors, the current foundations of the network, they seem more robust than ever.
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