Solana's total value locked (TVL) has reached $6.4 billion, its highest level since January 2022. The blockchain has surpassed Ethereum in terms of daily decentralized exchange (DEX) volume, with over $2 billion in volume compared to Ethereum's $1.4 billion. Raydium, a DEX on Solana, is a key contributor to the TVL surge and has reached a TVL of $1.6 billion. Pump.Fun, a token issuer on Solana, has gained traction and contributed to the surge in Raydium TVL. Pump.Fun allows users to create tokens for a low cost and has seen a spike in activity with AI-themed memecoins. The platform has generated $147 million in revenue on Solana and recently launched an upgraded trading terminal called Pump Advance.
- Content Editor ( cryptobriefing.com )
- 2024-10-22
Solana TVL reaches new peak since early 2022