Solana (SOL) registered a brand new all-time excessive of $12.11 billion in complete worth locked (TVL) on Sept. 9, surpassing its earlier document of almost $12 billion set on Jan. 23.
In keeping with DefiLlama information, the milestone represents a 15% improve over the previous 30 days, pushed by broad-based development throughout the ecosystem’s largest DeFi protocols.
Seven of the eight protocols with over $1 billion in TVL posted double-digit month-to-month features, with solely Kamino recording modest development of three%.
Jupiter leads Solana’s DeFi panorama with $3.3 billion in TVL, adopted by Jito at $3.2 billion and Kamino at $3.1 billion. Sanctum holds $2.894 billion, whereas the liquid staking SOL offered by Binance instructions $2.5 billion.
The remaining protocols above the $1 billion threshold embody Raydium at $2.4 billion, Marinade at $2.2 billion, and Drift at $1.3 billion. All demonstrated sturdy momentum with month-to-month features starting from 12.2% to 33.6%.
The TVL restoration positions Solana among the many prime blockchain ecosystems by locked worth, particularly amongst Ethereum layer-2 (L2) blockchains. Base is the most important Ethereum L2, with $4.8 billion in TVL, which is lower than half of Solana’s dimension.
Institutional curiosity doubtless driver
Company treasury adoption and regulatory readability are driving renewed institutional curiosity in Solana.
5 Days to Smarter Crypto Strikes
Learn the way execs keep away from bagholding, spot insider front-runs, and seize alpha — earlier than it is too late.
Dropped at you by CryptoSlate
Ahead Industries formally introduced its funding of $1.6 billion in SOL as a part of a strategic treasury diversification. It secured non-public placement commitments in money and stablecoins from Multicoin Capital, Galaxy Digital, and Soar Crypto.
Moreover, SOL Methods started buying and selling on Nasdaq on Sept. 9, after securing approval on Sept. 5. The funding agency goals to focus completely on Solana ecosystem alternatives and supply institutional traders with direct publicity to the blockchain’s development.
Moreover, massive establishments goal to launch staking-enabled crypto exchange-traded funds (ETFs) within the US tied to Solana. In Could 2025, Canary filed for a Solana ETF powered by liquid staking in partnership with Marinade.
Since then, the US Securities and Alternate Fee (SEC) issued an announcement on Aug. 5 concluding that liquid staking tokens will not be securities by default however receipts. The transfer is the final regulatory hurdle earlier than the approval of staking-enabled ETFs.
On Aug. 22, VanEck and Jito filed for an ETF backed by JitoSOL. The product is the primary within the US to be solely backed by a liquid staking token.
