Ethereum

Solana

Value

DeFi

Strong

<ul>
 <li>Solana’s Total Value Locked (TVL) hits $5.657B, showcasing strong user trust and engagement in DeFi protocols.</li>
 <li>SOL price recovers to $191.63 with bullish momentum, positioning Solana as a major Ethereum competitor.</li>
 <li>Active addresses reach 1.17M, highlighting significant user activity and network adoption in the last 24 hours.</li>
</ul>
<p>Solana’s blockchain ecosystem is showing growth across various metrics. Total Value Locked (TVL) stands at $5.657 billion, indicating substantial user engagement and trust in the platform’s <a href="https://cryptonewsland.com/ripple-teases-progress-on-upcoming-stablecoin/" rel="noopener noreferrer nofollow">decentralized finance</a> (DeFi) protocols. This high TVL reflects the active participation and confidence of users.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING BIG: Solana now tops Ethereum in 24H DEX volume, active addresses, fees, and revenue generation. <a href="https://t.co/nMezlu2Jzv" rel="noopener noreferrer nofollow">pic.twitter.com/nMezlu2Jzv</a></p>— SolanaFloor (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1817868204238360890?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
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<h3 class="wp-block-heading" id="h-strong-performance-in-defi-and-stablecoins"><strong>Strong Performance in DeFi and Stablecoins</strong></h3>
<p>The stablecoins market cap on Solana is $3.208 billion. This suggests a growing ecosystem for stable-value transactions and DeFi applications. Over the past 24 hours, transaction fees amounted to $2.13 million, contributing to <a href="https://cryptonewsland.com/casper-network-halts-operations-to-address-security-breach/" rel="noopener noreferrer nofollow">network security</a> and validator incentives.</p>
<p>Revenue generated by the network in the last 24 hours is $1.07 million. This revenue likely comes from various ecosystem activities and services. Trading volume on Solana-based platforms reached $1.993 billion over the past day, indicating high liquidity and active trading.</p>
<h3 class="wp-block-heading" id="h-investor-confidence-and-user-activity"><strong>Investor Confidence and User Activity</strong></h3>
<p>New capital inflows into the <a href="https://solana.com/" rel="noopener noreferrer nofollow">Solana ecosystem</a> in the last 24 hours totaled $27.82 million. This suggests continued investor interest. Moreover, the number of unique addresses interacting with the network in the past day was 1.17 million, highlighting user activity and adoption.</p>
<p>The cumulative amount of funding raised by the Solana project is $315.76 million. This demonstrates substantial backing from investors.The fully diluted valuation (FDV) is $111.33 billion, indicating potential for future growth as more tokens enter circulation.</p>
<h3 class="wp-block-heading" id="h-price-action-and-market-dynamics"><strong>Price Action and Market Dynamics</strong></h3>
<p>SOL shows an overall uptrend, with the current price at <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">$189.22</a>. There was a price surge from February to March, followed by a correction. The price has been in a recovery phase since May, with a recent strong upward movement.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeJ-sKo7mVjMlNgk_VWX4dLxD8v7Zcc8oF6eaYI4mYhL23h_N2m9TLf6EOHbRaPKuuEEtcwa2bsbWxxzI68_7_WNnkVI03d0ng0CIHCSujqoOZBW6Kk5mW5q64uwRX7V2QWm_IS1WAZ51lMNBIgFfSr62QB?key=nVA1uxQOneFOCbySdsIvKg" alt="...">
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 <p>The post <a href="https://cryptonewsland.com/solanas-tvl-hits-5-657b-tops-ethereum/" rel="noopener noreferrer nofollow">Solana’s TVL Hits $5.657B, Tops Ethereum as DeFi and Stablecoins Drive Ecosystem Growth</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>
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Solana’s TVL Hits $5.657B, Tops Ethereum as DeFi and Stablecoins Drive Ecosystem Growth

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