Solana’s TVL has surged by 46% in the last month
Solana’s SOL has surged by over 36% in the last 7 days. It is currently stable at $255.89, after hitting a record high of $294 on Sunday. The price surge has been attributed to the surge in activity on the blockchain amidst the launch of the $TRUMP and $MELANIA memecoins.
Solana’s TVL crosses $10 million:
Further, the Solana network’s total value locked (TVL) crossed the $10 billion mark for the first time since November 2022 and reached a new all-time high of over $12 billion as per DefiLlama data.
“Bullish on Solana Defi 2025” said an user on X.
Solana’s 46% surge in TVL in the last month has come at the expense of its competitors such as Ethereum, Tron and the BNB Smart Chain (BSC).
In fact, Ethereum’s TVL has shrunk by 1.87% in the last 30 days.
Trading Frenzy causes Wallet Disruptions:
The launch of the Solana-based memecoins – $TRUMP and $MELANIA challenged Solana’s infrastructure with the multi-chain, self-custodial phantom wallet reporting that the platform was receiving over 8,000,000+ requests per minute.
“...transactions may have trouble going through on the first try,” the Phantom wallet posted on X.
Even Coinbase CEO Brian Armstrong responded to the rapid increase in user interest in Solana by stating that “Team is working hard on scaling our Solana infra now – lots of Solana activity last few days, we were not anticipating this level of surge.”
It is important to note that despite the unexpected surge in activity, Solana remained operational 100% of the time.
With its expanding user base, surging token prices, and massive trading volumes, there is no doubt that Solana is cementing itself as a focal point of crypto innovation in the ecosystem.
