A look at Solana as it logs a surge in revenue, prices and more

A look at Solana as it logs a surge in revenue, prices and more

August 1, 2023

By Dipayan Mitra

Is your portfolio green? Check the Solana Profit Calculator

Solana’s TVL remained above the $1 billion level for multiple weeks.

SOL was down by 2% in the last 24 hours, and market indicators were bearish.

Solana’s [SOL] Total Value Locked (TVL) has been rising since the beginning of this year. In fact, the metric continued to hold at its highest value since January 2023. This was encouraging, as it indicated that the number of assets that were being staked on Solana was high.

Apart from TVL, its revenue also gained an upward momentum, which was positive for the blockchain’s growth. A closer look at Solana’s overall ecosystem provided a better understanding of its growth.

Bird’s-eye view of Solana

As per DeFiLlama’s data, Solana’s TVL remained comfortably above the $1 billion level for multiple weeks. This also translated into a hike in blockchain revenue.