CandleFocus

6 Solana protocols crossed $1b TVL 

The top six protocols on Solana, a layer-1 blockchain network, have collectively locked in over $9 billion in total value for the first time in the platform's history. Jito, Kamino, Jupiter, Raydium, Marinade, and Sanctum have all surpassed $1 billion in user deposits. The native token of Solana, SOL, has seen significant growth, increasing by over 547% in the past year. This surge has been attributed to features like Actions and Blinks, as well as memecoin speculation and fast transactions. Bitget Research chief analyst, Ryan Lee, predicts that SOL could reach $180 in October due to hype and potential institutional support from Franklin Templeton and Citibank.

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