Solana Reaches New All-Time Highs in TVL and DEX Volume

The Solana network has achieved significant milestones, with its total value locked (TVL) reaching an all-time high of over $12 billion on January 19. This marks the first time Solana’s TVL has crossed the $10 billion threshold since November 2022. Additionally, Solana’s DEX volume also reached consecutive all-time highs over the weekend, with a record $39.2 billion on January 19.

TVL Surge and DEX Volume Rankings

Solana’s TVL surge represents a nearly 50% increase over the last seven days, while its DEX volume has surged by a whopping 320% in the past week. As a result, Solana has taken the top spot in the DEX volume rankings. At the time of writing, Solana’s price has decreased by nearly 8% to $238.47 in the past 24 hours of trading, but it reached as high as $261.78 on January 19.

Protocols Leading the Charge

Currently, the Solana MEV Jito Foundation leads the charge with the highest TVL, followed by other major protocols including Jupiter, Raydium, and Kamino. Although Ethereum still holds the first place in terms of TVL, Solana’s TVL has seen a boost of more than 33% in the past month, while Ethereum’s TVL has decreased by nearly 5%.

The Impact of TRUMP and MELANIA on Solana

Solana is known for being the go-to backing crypto for meme coins, and the Trump family’s official meme coins, TRUMP and MELANIA, have made a significant impact on the network. Both tokens are Solana-based and have reached billions in market capitalization just three days after their launch.

As Solana’s TVL went down, so have the prices of TRUMP and MELANIA tokens.

According to data, in the past 24 hours, TRUMP has fallen by 26% from $74 to $37.50, while MELANIA suffered a worse fall, plummeting 47% from $13 to $4.48.

Key Takeaways

  • Solana’s TVL has reached an all-time high of over $12 billion.
  • Solana’s DEX volume has reached consecutive all-time highs, with a record $39.2 billion on January 19.
  • TRUMP and MELANIA, the Trump family’s official meme coins, have had a significant impact on Solana’s TVL and DEX volume.
  • Solana’s TVL has seen a boost of more than 33% in the past month, while Ethereum’s TVL has decreased by nearly 5%.

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