Solana Becomes Second Largest Chain By DeFi TVL; Can The SOL Price Rally Back To New Highs?
The post Solana Becomes Second Largest Chain By DeFi TVL; Can The SOL Price Rally Back To New Highs? appeared on BitcoinEthereumNews.com.
Solana’s latest surge in DeFi total value locked has propelled it to the second-largest chain by TVL, briefly surpassing contenders like BNB and Tron. Yet market watchers note a recent price drop of -9.53% to around $19, even as trading volume skyrocketed +188.66% to $13.99 billion. Such volatility raises questions about whether Solana can convert its DeFi leadership into a lasting SOL price rally, especially amid intensifying competition. Meanwhile, a Remittix synergy approach is stealing headlines for offering practical solutions rather than incremental protocol tweaks. If bridging crypto with everyday money appeals more than incremental chain expansions, read on to see how PayFi might overshadow typical DeFi hype. SOL Price Rally: Factors Behind The Uptick And Dip Solana’s push to become a DeFi hub involved stablecoin integrations, major partnerships with Visa, and the rapid growth of Raydium’s automated market making. These steps catalyzed a short-lived price upswing, until concerns arose about legal scrutiny and lawsuits, alongside macro uncertainties. While daily volumes soared above $13.99 billion, aggregator data shows whales possibly offloading profits after a quick climb. The chain’s advanced features—like quantum-resistant Vaults and cross-chain transaction support—impress devs, but critics argue user adoption needs to spread beyond DeFi insiders. If those expansions fall short, the SOL price rally might stall yet again. Some watchers remain bullish, seeing Solana’s DeFi surge as a foundation for future rebounds, provided it tackles reliability and user-friendliness to lure mainstream activity. Remittix Synergy: PayFi Alt Bridges Real Finance While Solana competes on speed and DeFi offerings, Remittix takes a different route, focusing on bridging a $190 trillion global remittance sector. Over $10 million in presale investments signals strong belief in a PayFi platform letting freelancers, migrant workers, and unbanked individuals convert crypto into local currency at a fraction of typical wire costs. Picture someone in a…
Filed under: News - @ February 8, 2025 4:25 am