Solana Total Value Locked Shatters $8,600,000,000 in Q4 2024, Surging 486% in One Year: Messari
The post Solana Total Value Locked Shatters $8,600,000,000 in Q4 2024, Surging 486% in One Year: Messari appeared on BitcoinEthereumNews.com.
Ethereum (ETH) rival Solana (SOL) skyrocketed several multiples in terms of total value locked (TVL) in the last quarter of 2024, Messari’s latest data shows. In its new “State of Solana Q4 2024” report, the crypto analytics firm notes that TVL on Solana grew by 64% quarter-on-quarter (QoQ) and 486% year-on-year (YoY) to $8.6 billion, ranking it second among blockchains, surpassing Tron (TRX) in November. TVL refers to the total value of digital assets locked or staked within a blockchain or application’s smart contracts. Source: Messari Leading the charge on Solana, according to Messari, was Raydium, which is currently the biggest decentralized exchange (DEX) on the network. Raydium’s TVL grew 86% QoQ and ended Q4 with a 24% market share. Messari says Raydium’s dominance can be attributed to speculators trading memecoins and artificial intelligence (AI)-related crypto assets. “Solana continued to establish its position as a dynamic force in the blockchain ecosystem throughout Q4 2024. The quarter saw remarkable growth across multiple sectors, including DeFi, liquid staking, NFTs (non-fungible tokens), and institutional involvement. DeFi (decentralized finance) remained a cornerstone of the growth on Solana, with its Total Value Locked (TVL) soaring by 64% to $8.6 billion, securing the network’s place as the second-largest in the space. This increase was driven by significant jumps in lending platforms and decentralized exchanges (DEXs), with Raydium and Jupiter leading the charge in daily volumes. The memecoin trend provided further momentum, boosting application revenues and market activity. Meanwhile, the liquid staking rate rose by 33% QoQ to 11.2%, solidifying its role in the growing yield-bearing SOL ecosystem.” You can read the full Messari report here. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix  …
Filed under: News - @ February 10, 2025 10:18 am