Solana strengthens its position in the DeFi sector and steadily grows in value

SolanaLast week was extremely successful for the Solana ecosystem. The value of the SOL token reached $223, and the total blocked funds (TVL) in all DeFi protocols rose to $7.49 billion, which allowed the blockchain to overtake TRON and take the 2nd place among blockchains by this indicator. The network recorded 6.1 million active addresses on an average day, highlighting the increasing user interest in the ecosystem. A key development last week was the expansion of PayPal’s PYUSD to Solana using the LayerZero protocol. This adds Solana’s status as a feature-rich network for handling digital payments. Coinbase also included SOL in its COIN50 index, which increases the asset’s visibility among institutional investors. The

NFT market is also booming. Solana accounted for 40% of all active users of non-mutualizable tokens in a week, which is 2 times higher than Ethereum. Bonk (+55.44%) and Render (+41.37%) stand out among the ecosystem’s top-performing assets, reflecting the growing interest in both meme tokens and infrastructure projects.

In the DeFi market, Solana’s network processes 43.5 million transactions daily

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This figure demonstrates the scale of the blockchain and its ability to compete with other leading chains, especially after reaching a new TVL record. In addition, DeFi Technologies unveiled a strategy called the MicroStrategy of Solana, which involves long-term investment in network assets. This signals further growth opportunities, especially as it continues to integrate with major financial and technology companies. Thus, Solana only solidified its status as one of the leading ecosystems in the crypto space last week. Record performance in the DeFi and NFT sectors, success in the meme-token market, and strategic partnerships confirm the network’s strong position, making it attractive to investors.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.

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