Solana, one of the largest cryptocurrencies by market cap, has exhibited bullish signals as one of its key metrics, total value locked (TVL), crosses $6.1 billion according to on-chain data. This would be the highest it has reached in almost three years, since January 2022. A spike in the total value of assets deposited in a project translates to both increasing engagement in the project and user trust. Moreover, there has also been an increase in the number of Solana tokens locked in decentralized finance (DeFi) protocols. As per data from DefiLlama, more than 40 million SOL tokens have been locked in these protocols.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.