Solana has set a new historical record for total value locked, reaching $12.11 billion. The growth has been primarily driven by the success of DeFi protocols.
Record Total Value Locked for Solana
According to DefiLlama, Solana reached a new all-time high of $12.11 billion in total value locked on September 9th. This figure surpasses the previous record of nearly $12 billion set in January. The significant contributions to the increase in locked assets in DeFi came from protocols such as Jupiter, Jito, Sanctum, and Raydium, all of which demonstrated substantial growth over the past 30 days.
Reasons for DeFi's Popularity on Solana
Solana's technical innovations position it well for the DeFi revolution. It uses parallel processing and a proof-of-history blockchain, enabling it to process tens of thousands of transactions per second. Additionally, lower transaction fees make Solana an attractive choice for high-frequency trading and microtransactions.
Growth Prospects for DeFi on the Solana Platform
The ongoing growth of DeFi applications is expected to boost confidence in Solana as a platform, leading to an influx of traders eager to capitalize on the continuously increasing total value locked. This creates the potential for further expansion of the Solana ecosystem, particularly given the success of protocols like Jupiter.
The increase in Solana's total value locked indicates steady interest in the platform from DeFi investors and traders, with significant implications for the ecosystem's future.
