Solana TVL has reached a new high since the beginning of 2022
Key receivers
Solana's TVL has reached its highest level since January 2022. Solana's 24-hour DEX volume exceeds $2 billion.
Share this article
Solana's total value locked (TVL) rose to $6.4 billion, the highest level since Jan. 6, 2022, according to DeFillama data.
In terms of daily decentralized exchange (DEX) volume, blockchain has surpassed Ethereum and other major networks. Its DEX volume has surpassed $2 billion in the last 24 hours, while Ethereum volume has reached over $1.4 billion.
A key contributor to this TVL controversy is Radium, a DEX based in Solana. The data showed that Radium TVL hit $1.6 billion on October 22, the highest level since December 2021. It is currently the second largest protocol on the Solana ecosystem.
The increase in Raydium TVL comes at a time when Pump.Fun, a Solana-based token issuer, has been on the rise. The platform's ease of use and low barrier to entry, allowing users to create tokens for less than $2, has made it a favorite for those looking to create their own tokens, especially memecoin creators. When a token launched on Pump.Fun reaches a market value of $69,000, a portion of the liquidity will be added directly to Radium.
According to data from Dune Analytics, Pump.Fun is approaching 1 million SOL in its lifetime, and the number of tokens launched since its launch in early March has exceeded 2.5 million.
Pump.Fun has seen an increase in activity with 5,550 addresses issuing 7,500 tokens in the last 24 hours. The peak was driven by renewed interest in AI-themed memecoins, similar to the recent excitement surrounding the GOAT memecoin craze, which has attracted attention in the crypto market due to its unique backstory and viral appeal.
Also available on the Base and Blast networks is Pamp.Fun's primary use case. on Solana has generated $147 million in revenue since its inception. The platform recently introduced an improved trading terminal called Pump Priority, which It offers improved functionality for users, including mini charts and social indicators. As an introductory offer, Pump Advance users can enjoy 0% payment for the first month.
Share this article
