The post TVL Drops, Memecoin Mania Wearing Off and Price at Risk of Falling Below $110 – CryptoNinjas appeared on BitcoinEthereumNews.com.

Key Takeaways: The Total Value Locked (TVL) in Solana has dropped 40% in the past month, mirroring a broader decline in activity across its network. The memecoin frenzy on Solana is also fading, contributing to periods of stagnation for SOL’s price. In technical terms, the SOL price is likely to visit $110 before encountering strong support. The Solana (SOL) token — once seen as a high-speed, low-cost Ethereum killer — is at a crossroads. The network is also experiencing a large retracement after several weeks of incredible growth fueled by DeFi innovation and the suddenly enormous popularity of memecoins. The cryptocurrency SOL, which previously surged to nearly $300, is now settling almost 52% below its all-time high, still trading in a dangerous position and with more space for down movement. The million-dollar question: is Solana’s star going dim, or is this just a temporary pause on the way to becoming a significant player in the crypto world? A $5 Billion TVL Plunge: What Just Happened? One of the most alarming indications is the drastic decrease in Solana’s Total Value Locked (TVL). The total value locked (TVL) within Solana’s DeFi protocols, or the aggregate value and sum of assets that are locked within protocols on the network, has collapsed by a staggering 39.2% over the past 30 days. For some context, this is Solana’s largest month over month loss since FTX’s spectacular collapse in November 2022 rocked the entire crypto ecosystem to its very foundations. 📈 Crypto Market Update Solana TVL drops $5B in 30 days. Source: @Cointelegraph https://t.co/7NUfiPFWCL — Getcryptofast (@getcryptofast) February 27, 2025 Indeed, at the height of Solana’s success (#2 in TVL) on January 24th of this year, its TVL was over $12.1 billion, while it is (again) currently at $7.4 billion. Particularly troubling about this drop is that TVL is generally viewed as a barometer of a…

---

Filed under: News - @ February 28, 2025 2:19 am