Solana’s TVL Hits Highest Level Since June 2022
Solana maintains its position as the second-largest blockchain by Total Value Locked (TVL), with April figures the highest since June 2022, despite a drop in the price of $SOL.
- Current price of $SOL is around $120, down over 60% from mid-January's high of $290.
- 1.79M staked tokens were unlocked on April 4th, contributing to recent price pressure.
- Deposits on Solana's decentralized applications (dApps) increased by 14% month-on-month, reaching 53.8M SOL.
- Solana holds a DEX market share of 24%, just behind Ethereum's 26%.
Investors are showing confidence in Solana amidst broader market declines, indicating potential for future price increases due to strengthening fundamentals.
The unlocking event and subsequent selling pressure have not deterred investor interest, reaffirming trust in the Solana ecosystem.