The total TVL of decentralized applications within the Solana ecosystem has more than tripled since the beginning of the year, nearing the figures of Tron.
Over the past 30 days, the total value locked in the Solana ecosystem has risen by 22.23%, according to DeFi Llama. The current metric stands at $6.64 billion. The peak was reached in November 2021, briefly surpassing the $10 billion mark.
The largest Solana applications include Jito, Kamino, and Jupiter.
In a conversation with Decrypt, CoinSwitch executive Balaji Srihari expressed hope that resolving regulatory uncertainties will allow Solana to fully realize its potential.
He added that the approval of an ETF based on the fourth-largest cryptocurrency by market capitalization will depend on “the complex interplay of regulatory and market dynamics.” At the end of October, crypto investment firm Canary Capital submitted a corresponding application to the SEC.
At the time of writing, Solana is trading around $194 (25.6% below its all-time high). Over the past seven days, the asset has risen by 14.2%, according to CoinGecko.
Earlier, technical analyst Peter Brandt saw potential for a 27-fold increase in Solana’s value — up to $4500.
