Categories: MarketsMenafn

Solana’s Total Value Locked Remains Above $9 Billion Even as Trading Volumes Plunge

The total value locked (TVL) on the smart contract blockchain Solana has been remaining above the $9 billion mark over the last few weeks, at a time in which the trading volume on its decentralized exchanges started plunging.

Data from DeFiLlama shows that the total value locked on Solana first crossed the $9 billion mark in late November, and while it has failed to break through the $10 billion threshold, it has remained relatively stable since.

The same source shows that trading volumes meanwhile exploded during the month of November, from around $2 billion a day to a new all-time high of $7 billion registered on November 18, before volumes started plunging.

The plunge has seen trading volumes on decentralized exchanges more than halve to now stand around $3 billion, while total value locked remains steady.

Solana TVL and DEX volumes. Source: DeFiLlama

Along with the declining decentralized exchange trading volumes, so have protocols’ revenues been dropping, as smaller trading volumes means less fees are collected. Decentralized exchange volumes plunged after Pump.fun, a platform allowing users to launch new tokens without needing to code, dropped a livestream feature that suffered from moderation issues.

Solana’s price stalls

Solana’s price has also been somewhat resilient to the slowdown. The cryptocurrency’s price initially surged from $215 to a $260 all-time high as trading volumes were elevated, but has since endured a slight correction to now stand at $216. Over the past month, while trading volumes plunged, SOL’s price is up a modest 0.5%.

The cryptocurrency’s price has seemingly stalled while other major digital assets keep on rising, with Bitcoin recently topping the $106,000 level for the first time ever, and Ethereum moving above $4,000 to now stand at $4,050.

Meanwhile XRP has consolidated its position as the third-largest cryptocurrency by market capitalization, rising 6% over the past week to now trade at $2.5 per token.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

SUI Jumps 26% in 24 Hours Amid Wider Crypto Market Rally

SUI has spiked 26% in the last 24 hours and is now near the $3…

7 hours ago

Lumoz RaaS to Support RISC-V zkEVM: Advancing Layer2 Performance and Scalability

Lumoz RaaS introduces support for RISC-V–based zkEVM, offering prebuilt development modules and a compatible toolchain…

15 hours ago

Smartproxy Rebrands to Decodo: A New Era of Web Data Solutions

Vilnius, Lithuania, 22nd April 2025, ZEX PR WIRE, Smartproxy, a leading provider of proxy and web…

1 day ago

Bitcoin Price Breaks Above $90K: What’s Driving BTC’s Rally?

Bitcoin is back in the driver’s seat. The benchmark crypto broke through the $90,000 barrier…

1 day ago

Deutsche Bank and Standard Chartered Gear Up for U.S. Crypto Integration

Two of the world’s leading financial institutions, Deutsche Bank and Standard Chartered, are preparing to…

2 days ago

In collaboration with the UAE Cyber Security Council and GISEC 2025, emt to present Cyber Escape Room Experience

Dubai, UAE, 21st April 2025, ZEX PR WIRE, emt, a leading innovator in cybersecurity solutions…

3 days ago