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<ul><li>Total Value Locked (TVL) on the SOL chain falls by more than 30%.</li><li>The current TVL on Solana Chain is $423.68 million.</li><li>The fall was triggered after Binance backed out from the acquisition deal.</li></ul><h2 id="header-0">The total value locked (TVL) on the Solana chain has dropped 32.4% in the last 24 hours, as news of FTX&#39;s collapse has caused shockwaves across the crypto world.</h2>As per reports, Solana&#39;s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far way from its all-time high (ATH) of $10.17 billion on Nov. 9, 2021.<a href="https://www.coingabbar.com/en/crypto-blogs-details/what-is-total-value-locked-tvl-in-defi" rel="noopener noreferrer nofollow">TVL</a> is the total value of all assets locked into DeFi protocols. As TVL rises, more coins are deposited within the DeFi protocols, indicating positive sentiment. Meanwhile, a declining TVL indicates that investors are withdrawing funds from the ecosystem for various reasons.The fall in TVL went as far as 51.7% in the last 24 hours, however, it had partially corrected prior to the writing of this article.Marinade Finance, a Solana-based liquid staking protocol, has witnessed the greatest loss in TVL on the chain, falling 35.1% to $115.79 million in the last 24 hours.Other key protocols on Solana have witnessed similar drops in the previous 24 hours, with Raydium, an automated market maker, down 34.25%. Lido, a liquid staking protocol, is down 43.13%, and Solend, a lending protocol, is down 63.07%.Other leading blockchains have also witnessed losses in TVL over the same time period, with ETH down 10.59%, BNB smart chain down 9.68%, and Tron down 8.84%.Sam Bankman-Fried (SBF), the founder of FTX and crypto hedge fund Alameda Research, was an early investor in Solana. However, Alameda Research and cryptocurrencies exposed to SBF&#39;s companies have suffered the most.Solana&#39;s token has also decreased significantly in comparison to its competitors, plummeting 28% to $15.3 in the last 24 hours.The token briefly rose following news that <a href="https://www.coingabbar.com/en/crypto-currency-news-english/binance-buying-ftx-biggest-crypto-acquisition-ever" rel="noopener noreferrer nofollow">Binance could acquire FTX</a> but plunged as Binance backed out of the deal, citing charges of consumer funds mismanagement and a regulatory investigation.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/singapore-government-involved-indirectly-binances-ftx-bailout" rel="noopener noreferrer nofollow">Singapore Government Involved Indirectly In Binance&#39;s FTX Bailout</a>

Solana TVL Falls 32.4% As FTX Turbulence Shakes The Ecosystem

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