NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Solana Beats Out Ethereum To Emerge As Best Performer In Terms Of TVL

Scott Matherson
Scott Matherson
2 years ago
3 mins read
Solana

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum is currently dominating the DeFi and smart contract niches when it comes to the Total Value Locked (TVL). However, while Ethereum is still the king, other chains like Solana, Avalanche, and Polkadot compete to prove themselves worthy contenders to the throne. 

Solana, in particular, has seen some massive growth recently in terms of its total value locked (TVL). According to on-chain data from Messari, Solana outperformed other chains by achieving a total value-locked (TVL) gain of 14% over the course of the previous month.

Solana Sees Massive Growth in Total Value Locked

The aggregated TVL of the entire DeFi sector has been in a freefall since November 2022, and Solana hasn’t been exempted. However, Solana’s growth during the past month was driven in significant part by an increase in the TVL of protocols for staking and yielding based on Solana.

Related Reading

Bitcoin Spot ETF

BlackRock Insiders Give A Timeline For When The First Spot Bitcoin ETF Will Be Approved

1 year ago

TVL refers to the total amount of assets deposited in a decentralized finance (DeFi) protocol and is used as a metric to rank platforms. On-chain reports show that Solana grew its TVL by $45 million in July, corresponding to a 14.4% growth.

According to DeFi Llama, Solana currently sits at the 9th position in terms of TVL locked in all chains. Solana is now at a TVL of $320.07 million, representing a massive growth from its $205.11 million TVL at the beginning of the year.

While Ethereum still has the highest value with a TVL of $23.3 billion, it saw its TVL decline by 13% over the past month. Binance Smart Chain (BSC) also posted a monthly loss in TVL, dropping by 4.6% to $3.3 billion.

Solana (SOL) price chart from Tradingview.com (Ethereum)

SOL price recovers to $24.75 as TVL grows | Source: SOLUSD on Tradingview.com

How Far Can SOL Go In 2023?

While the increase in TVL is due in part to an increase in the TVL of protocols, Solana also witnessed a surge in price at the beginning of July. Data from Coinmarketcap shows the price of Solana shot up from $18.9 on July 1 to $27.4 on July 16 to reach a market cap of $11.81 billion. 

Solana, along with Bitcoin, led the surge in the crypto market around this time period. As a consequence, the surge in Solana’s price led to a direct proportion in the value of the total assets locked in DeFi protocols on the chain. 

Related Reading

Hong Kong crypto

Beware Of Crypto Firms Falsely Claiming To Have Submitted License Applications

1 year ago

Despite having a TVL growth in the last month, user activity on the chain dropped toward the end of the month. Its market cap also dropped to $9.7 billion at the end of July, demonstrating the volatility of the crypto market. 

At the time of writing, Solana is trading at $24.85 and is up by 14.93% in a monthly timeframe. Although experts predict Solana can surge above $30 before the end of the year. 

Featured image from Analytics Insight, chart from Tradingview.com
Tweet123Share196ShareSend
Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solana迷因幣暴漲從90美元到325萬美元傳奇 下個1000倍幣下注Bitcoin Hyper

在加密市場週期性波動之際,出現草根代幣的極端逆襲,一個名為Unicorn Fart Dust(UFD的Solana生態模因幣,於短短兩天內將90美元的初始投資變為325萬美元,震撼了整個社群。據區塊鏈...

Mark Mak 10 hours ago
Ethereum

Ethereum Is Positioned As The Backbone Of AI-Powered Finance, Here’s Why

Artificial intelligence may be the hottest narrative in tech, but its true financial backbone could be Ethereum. With its dominance...

Godspower Owie 18 hours ago
Ethereum Faces Risk As Binance Leverage Ratio Skyrockets To Record Levels

Ethereum Faces Risk As Binance Leverage Ratio Skyrockets To Record Levels

Ethereum is at a decisive moment after a turbulent week of trading. Following a powerful surge on Friday that pushed...

Sebastian Villafuerte 19 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana news

Solana DATs Could Move Price 10x Faster Than Ethereum, Expert Warns

Jake Simmons 1 hour ago
Ethereum Longs at Risk? Analyst Warns of Recurring Weekly Liquidation Pattern

Ethereum Longs at Risk? Analyst Warns of Recurring Weekly Liquidation Pattern

Samuel Edyme 6 hours ago
Ethereum Price Readies for Takeoff

Ethereum Price Eyes Upside Continuation, Bulls Preparing for Fresh Move

Aayush Jindal 9 hours ago

Premium Sponsors

Press Releases

  • イーサリアム...

    59 minutes ago
  • 著名な懐疑論者が75,000ドルへの下落を警告

    ビットコイン...

    1 hour ago
  • 3 altcoiny, które warto obserwować we wrześniu w poszukiwaniu zysków: Maxi Doge, Ethereum, Dogecoin

    3 altcoiny, które warto obserwować we wrześniu w...

    1 hour ago
  • コミュニティ主導の進化と市場の未来

    シバコイン...

    1 hour ago
  • 終わらない遅延と信頼性の危機、プロジェクトの未来は?

    パイネットワーク...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.