- Overview of TVL on Solana Platform
- JTO Leads Solana-based Protocols in TVL
- Meteora Bottoms the List with $299M in TVL
Solana, a leading blockchain platform, keeps on making significant advancements in the DeFi sector. The total value locked in the DeFi ecosystem of Solana is reportedly standing at nearly $5.4 billion, with top protocols in terms of total value locked (TVL) including JTO, KMNO, MNDE, JUP, RAY, CLOUD, DRIFT, BLZE, and so on.
Overview of TVL on Solana Platform
TVL (Total Value Locked) operates as a crucial metric that denotes the cumulative worth of assets in the Solana-based decentralized finance protocols. This is a primary indicator of the growth and adoption of the platform.
JTO Leads Solana-based Protocols in TVL
Based on the data regarding total value locked, Jito Labs (JTO) is ruling the market with a TVL of nearly $2.04 billion. Kamino (KMNO) secures the 2nd position with a TVL of up to $1.6 billion. Marinade (MNDE) takes the 3rd spot with a TVL of $1.21 billion. Jupiter (JUP) comes 4th with a TVL of nearly $1.12 billion. Raydium (RAY) holds the 5th position with a TVL of nearly $1.02 billion, followed by Sanctum (CLOUD).
Meteora Bottoms the List with $299M in TVL
The TVL of CLOUD has reportedly touched $850 million. Drift Protocol secures the 7th place with a TVL of $431 million. Marginfi is ranked 8th with a TVL of $421 million. BlazeStake takes the 9th spot with a TVL of around $300 million. Meteora is the 10th and last entry with a TVL of $299 million.
The total value locked in Solana's DeFi ecosystem shows growth, indicating a high level of user and developer adoption and success of the platform.
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