Solana TVL reaches new peak since early 2022

Key Takeaways

Solana’s TVL has reached its highest level since January 2022.
Solana’s 24-hour DEX quantity has exceeded $2 billion.

Solana’s whole worth locked (TVL) has surged to $6.4 billion, marking its highest degree since January 6, 2022, in keeping with knowledge from DeFiLlama.

By way of day by day decentralized alternate (DEX) quantity, the blockchain has surpassed Ethereum and different main networks. Its DEX quantity has exceeded $2 billion over the previous 24 hours whereas Ethereum’s has reached over $1.4 billion.

The surge in TVL comes at a time when Pump.Enjoyable, a Solana-based token issuer, has more and more gained traction. The platform’s ease of use and low barrier to entry, permitting customers to create tokens for lower than $2, have made it a well-liked selection for these trying to create their very own tokens, particularly memecoin creators.

Knowledge from Dune Analytics exhibits that Pump.Enjoyable is approaching 1 million SOL in lifetime charges whereas the variety of tokens launched since its March debut has surpassed 2.5 million.

Pump.Enjoyable additionally noticed a spike in exercise with 5,550 addresses issuing 7,500 tokens in simply the final 24 hours. The height was pushed by a renewed curiosity in AI-themed memecoins, much like the current pleasure surrounding the GOAT memecoin craze, which has captured consideration within the crypto market resulting from its distinctive backstory and viral enchantment.

Whereas additionally out there on the Base and Blast networks, Pump.Enjoyable’s main utilization is on Solana, the place it has generated $147 million in income since its inception. The development has led to elevated buying and selling volumes and person participation on the platform.