Solana, one of the leading cryptocurrency networks, continues to demonstrate significant growth due to innovations and the expansion of its DeFi infrastructure.
Promising Developments of Solana
In the second quarter, Solana achieved several significant milestones, one of which was the approval of the Rex-Osprey Solana Staking ETF. This is the first approval of a staking ETF for Solana. The total value locked (TVL) in DeFi continued to increase, with a more than 30% rise compared to the previous quarter. Solana's network reached $8.6 billion in the previous quarter, bolstered by the expansion on the Kamino platform.
SOL Coin Price Dynamics
The SOL coin has started a promising rebound against the USD, testing the key $214 region. This level has been tested at least eight times and hasn’t been surpassed for 208 days. After regaining this level, SOL could quickly return to the $224-$261 range. The overall market sentiment is supportive, with BTC maintaining $112,500 support.
Prospects and Long-Term Trends
Currently, Solana’s network TVL has significantly increased to $11.74 billion at the end of the second quarter. This value is nearing levels seen during the well-known meme coin boom in early 2025. Changes in the TVL rankings among protocols showed that Jito now holds the top spot with a size of $3.24 billion, Jupiter has risen to second, and Kamino is in third place.
Solana demonstrates steady growth and significant achievements in DeFi, highlighting its important position in the cryptocurrency market. These trends are expected to continue developing in the future.
