Solana’s decentralized finance (DeFi) ecosystem sees a surge as the Total Value Locked (TVL) hits a new yearly peak, reaching over $640 million.
Despite recent fluctuations, Solana’s price approaches $60, breaking free from a descending channel on the daily chart.
Solana’s decentralized finance (DeFi) ecosystem has achieved a notable milestone as the Total Value Locked (TVL) hit a new yearly peak, coinciding with a positive shift in the asset’s price trend.
Data shows that SOL’s price surged by over 10% in the last 24 hours, reclaiming the $60 level and reaching $61.07 at the time of reporting.
This price increase propelled Solana’s TVL to over $640 million, marking a growth of approximately $40 million or a 5.27 percent increase in the past 24 hours, as reported by DeFillama data. This surge has elevated Solana to the 8th position among the top 10 performing DeFi chains, accompanied by an 8 percent growth over the past week.
The recent growth aligns with Solana’s year-l
