Solana (SOL) has garnered significant attention in the cryptocurrency market, surpassing its peers with an impressive 79% upward trend over the past 30 days. As its price continues to soar, inquiries have arisen regarding the reaction of the Solana ecosystem to this surge.
About this subject, the Jarvis Labs team has offered intriguing insights into the ongoing SOL bull run and the condition of its ecosystem, addressing the factors influencing its growth.
Is The Solana Ecosystem Lagging Behind?
Despite SOL’s price surge, the Total Value Locked (TVL) on Solana has only doubled during this period, failing to match the fourfold increase in SOL’s token price. This disparity raises concerns about the growth and development of Solana’s ecosystem in 2023. A closer examination of the ecosystem reveals a significant lag compared to the rapid appreciation of SOL’s price.
The Jarvis Labs team highlights that a new wave of projects injects liquidity into Solana’s ecosystem, offering hop
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