The total value locked (TVL) on the Solana network has experienced a significant surge, increasing by 21.07% from the previous week and reaching $5.074 billion, according to data from DefiLlama. This growth solidifies Solana’s position as the third-largest network by TVL, trailing only Ethereum and Tron.
Solana’s network hosts 150 protocols, indicating a vibrant ecosystem supporting a variety of decentralized applications (dApps) and services. With 1.13 million unique addresses, Solana boasts a significant user base, demonstrating widespread adoption of its blockchain technology. The network’s 1-day change of +5.13% suggests strong daily growth and heightened activity, possibly driven by new projects and increased user engagement.
Additionally, the 7-day change of +21.07% underscores substantial weekly growth, positioning Solana as one of the fastest-growing networks over this period. The 1-month change of +18.25% further highlights Solana’s steady long-term growth, signaling its rising popularity in the DeFi sector.
Solana Traders Watch for Breakout as Bullish Pennant Pattern Signals UptrendIn comparison, Ethereum maintains its dominance as the largest network by TVL, with $60.249 billion locked in 1,129 protocols. Despite a slight decline of 4.63% over the past month, Ethereum’s 7-day change of +12.74% and 1-day change of +0.91% indicate short-term growth and recovery. Ethereum continues to lead in terms of protocols and addresses, reflecting its extensive reach and established presence in the blockchain ecosystem.
Tron ranks second with a TVL of $8.399 billion across 34 protocols. The network shows moderate 1-month growth of 1.67% and a 7-day increase of 11.98%, indicating consistent expansion. Tron’s 1-day change of +2.64% further reflects its steady daily growth, underscoring its resilience in the competitive DeFi landscape.
Binance Smart Chain (BSC) ranks fourth, with a TVL of $4.868 billion spread across 775 protocols. Despite a slight decline of 1.46% over the past month, BSC has seen a positive 1-day change of +2.05% and a 7-day growth of +11.85%, suggesting short-term improvements and a strong recovery trajectory. Arbitrum, occupying the fifth position, boasts a TVL of $3.219 billion with 664 protocols. The network has recorded an impressive 1-month growth of +8.92% and a substantial 7-day increase of +16.93%, along with a 1-day change of +2.10%, indicating positive momentum and increasing adoption.
In a related development, Mog Coin (MOG), a community-driven meme coin on Ethereum, has shown significant price increases. The whale who initially purchased 8.26 trillion MOG for 251,000 USDC between September and October 2023 now holds 6.26 trillion MOG across three wallets, with an estimated total profit of $18.1 million. The price of MOG is $0.052194, reflecting a 15.42% increase in the last 24 hours and a 41.32% increase over the past 7 days. With a circulating supply of 360 trillion MOG, the coin’s market cap stands at $790,845,529.
