- Solana’s TVL grew by over 70% in the last month.
- The network saw the highest daily volume trends in its history.
Solana [SOL] has experienced remarkable growth in TVL (Total Value Locked) compared to other chains in recent weeks. However, what has been the overall impact on Solana’s TVL trend?
Solana records the highest TVL growth trend
An examination of the collective Total Value Locked (TVL) across all chains revealed that Solana held the seventh-highest TVL position. However, a cursory glance at the rankings fails to capture the complete narrative.
Upon closer analysis, it became evident that, in the last month, the Solana network exhibited the most substantial change among the leading chains.
As of this writing, the TVL had surged by more than 74% in the past month. Furthermore, within the last seven days, the TVL saw a remarkable increase of over 12%, surpassing any other network within the top 10.
How the Solana TVL and other key metrics have trended
According to DefiLlama, as of the 1st of October, Solana’s Total Value Locked (TVL) was around $326 million. Subsequent analysis by AMBCrypto revealed a noteworthy uptick in TVL before the end of October.
As of this writing, the TVL has risen to over $691 million, more than doubling the October figures. Although not reaching its historical peak, this represents the highest TVL recorded in over a year.
Furthermore, the chart showed a recent spike in network volume. The analysis of volume trends indicated that the current levels were the highest observed until press time.
While the all-time highest daily volume recorded
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Author: Adewale Olarinde
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